I just got psyched out by the Euro rise and oil strength. So I closed my oil short. My purchase price was \$10.34 two days ago on Tuesday. Final result in this trade is (\$10.04 - \$10.34) - \$4.95 x 2 commission = -\$75 - \$9.90 = \$84.90 = 0.88% of RRSP trading account. Normally I would wait for a retracement to exit, but the high volume of U.S. DB Oil Fund (DBO) at the close yesterday plus the lack of weakness at the open today (Figure 1) makes me uneasy. Note that even though EUR/USD is making new highs today, the U.S. equity market isn't following suit. In particular, S&P500 is still below previous resistance level around 1115. This may be a bear trap. Or, it could be a short term term. I couldn't tell. So I'm staying on the sideline for now and will just be watching the market play itself out. As you can see from my trading log, my last three trades were not profitable (2 losses and 1 breakeven). As such, I am putting myself on a cautionary mode until I can grow my account back to my previous high point.
[caption id="" align="aligncenter" width="570" caption="U.S. DB Oil Fund (DBO) intraday"][/caption]