A Peak At VLO Again
July 2, 2008 1:03 AM
I haven’t glanced at VLO in a while. One reason is the stock “bugs” me because it rises when the chart says the lows “shouldn’t” hold. I have never figured out why this is, but it is what it is.
Anyhow, I missed the trade on this one, sorry about that. it was a short below $55.00 IMO and made an effort in that area on June 3rd. That attempt was clearly rejected and was an easy short. My bad, I have not looked at the stock in probably 2 months. I am still not a fan of the low, on any level, but this thing has moved up repeatedly with no reason, so not sure. But one thing has proved correct: the moves up that I considered not “warranted” have all eventually failed and it has made new lows each time.
I do not care if this reverses and goes to $100. I want a new low to be long.
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