Replies to post #48222 on Short Term Trading Member Forum

[Chuck703VA]

Would not call my 'read' a good read.

I am straddled on the EUO right now with calls and puts.....and I don't recommend the position.

I felt we were in a correction to downside before much larger move to upside. We could be approaching another set of waves down here before the move to upside. We could also be finished with the correction, but it was less than a fifty percent correction of the large move up, my target was in the 23 area for the correction.