One Trade in SLB

March 19th, 2007

I traded SLB today. It was a HCPG suggested trade, although it didn’t show up on their main trading list. As it turns out, it would have made a much better gap play – it didn’t even show up on my gap radar, though. I’ve been paying a lot more attention to the 89% Fibonacci retracement level these days thanks to Esto. This would’ve been a nice play off that level.

Instead, I entered on the break of 66 and ended up with 0.5R. Here’s the chart review.

Long SLB, 03/19/2007

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