Friday, June 27, 2008

Petrochina (PTR / 0857.HK)

0857.HK Weekly Chart

Still in downtrend. Should continue down with oil going up. Buying the PTR put to replace my VLO. Oh yes, I was stop out of my VLO put during it's rally in the first week of June. Then, the oil chart was looking toppish and VLO shows potential of going higher, but it fooled me. Didn't get a chance to get back into my VLO put. So, I am hoping the PTR put can replace my missed chance. Bought the PTR put today.

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