Thursday, July 14, 2011

SCO Update.

I must admit I was concerned about the price action of SCO the past two days, but I calculated the daily price swings the past week and $2.00 price swings are normal for SCO. With the trend still up and the 2 period Williams %R showing oversold conditions, I figured something had to give and it did. I still plan to exit around $51.00 area but I will make my decision based on how the MACD looks around that time and price.

Daily Chart by

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