Small Time Trading

[benchman]

Yesterday, may have been capitulation for oil, as it rallied 3.7% today. Unfortunately, after the fed news, stocks took a royal dive, and all the oil drillers decided to follow the stock market instead of the price of oil. The opposite of yesterday. All the drillers I follow were red. The DOW closed down 352 points.

At one point ESV hit $4.01, and for most of the day traded in the $3.90's. I was out of my margin call at that point. After the fed announcement, that went to hell.

ESV closed down .09 to $3.68. It got as low as $3.60, which at least was above it's 52-week low ($3.56). My margin call has grown from $550 to $820. I went ahead and added another $1,000 to hopefully finally take care of this.