February 4, 2016 11:46 AM | 1 min read
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
ConocoPhillips (NYSE: COP) shares are trading lower by $2 at $36.63 in Thursday's session. The issue has been all over the place following a Q4 miss for EPS of ($0.35) along with a substantial revenue miss. Also, the company lower FY 2016 guidance and slashed it quarterly dividend from $0.74 to $0.25.In chaotic trading, the issue managed to open flat but its brief rally stalled just above Wednesday's high ($38.73), reaching $39 before sharply reversing course.The ensuing decline did not end until it found support ahead of Wednesday's low ($35.59), only reaching $35.92 before rebounding back into the $36 handle.Despite all the bad news, the issue has not come near it low for the recent slide that was made on Janaury 20 at $32.71.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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