Tuesday, June 17, 2008

XTO - XTO Energy - Swing



Chart's looking good. Looks like a cup & handle type pattern (you could argue it has formed a double bottom type pattern on the daily... either way the target and the trade management is the same). Sector (nat gas) is acting well too, especially with CHK's leadership. Needs volume to pick up and follow through. A reasonable target would be ~79-80.

Picked up MON earlier as well as it broke out and closed TRA for a nice gain in a week.

Speaking of MON & TRA, I had some solid gap up base & break trades in them today, which I'll post later.

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