Oxen Report Readers,
There is not really anything exciting going on in the market without much of any big movers it has been hard to find some solid overnight plays or daily trades. The holidays have taken our volume down to very low levels, and there is just not much of any exciting trades. I will do some updates on open positions that we are going to close out today, and we will hopefully get something exciting in the news that will present us with some exciting trades.
1. Ultra Proshares Oil and Gas ETF (DIG) – We got into DIG as a long term play back on December 21st at 34.50. Today, the stock is trading currently at 35.62. We have gained 1.12 or 3.25%. It is a pretty strong gain, especially against the weakness of the market’s movement over the past week. I am good with taking this gain, and I will set my range for the rest of the day at 35.50 – 35.85. A pretty good winner for the holiday season.
Position: Sell DIG for 3-4% gain.
2. Ford Motors Co. (F) – The short we took on F has not worked out as well for our overnight trades. We got into F at 10.10 for a short sale, but the stock has only risen since then to a modest 10.30. We lost 2%, and we should exit at this point and clean our wounds.
Position: Sell F for 2% loss at 10.30.
Sorry I have no new trades, but I just see no really great opportunities right now. Don’t want to force anything.
Good Investing,
David Ristau
