Bought 250 HOD.TO @ $11.11

Just shorted crude oil via the Horizons BetaPro Bear Plus ETF (HOD.TO). Purchase price is $11.11 bought minutes after the weekly crude oil inventories release today. Crude (DBO) made a small run to test resistance at $27.80 on the release. Figure 1 showing DBO’s 27.80 and 25.15 resistance levels. $25.15 on DBO is my stop loss level.

Powershares DB Oil Fund (DBO)

That is about $10.50 for HOD.TO. However, I’ll start to worry if price breaks below $10.80. Figure 2 is an intraday chart of HOD.TO.

Risk is ($11.11 – $10.50) * 250 shares = $152.5 or 1.7% of account.

I shorted crude instead of natural gas as I previous did because HND.TO is cracking its 200 day moving average around $6.70. Whereas HOD.TO is looking strong.

Horizons BetaPro Crude Oil Bear Plus (HOD.TO)

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