Tuesday, January 13, 2009

Chevron (CVX)

CVX Weekly Chart

CVX has broken its triangle. Supports: 55/48. Bought March 2009 put. Hopefully, CVX will make me money this time. The last time I bought the puts, I didn't take profit, so my puts will expire worthless this Friday. I didn't get out of the position because CVX has broken its uptrend line. The only direction to go is down. But, my Jan 2009 puts ran out of time.

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