Going into lunch I was just a bit frustrated which can be dangerous as a trader. I had RIG on my climatic watch list hoping to see a huge rally upward with price finally giving us a climatic top that I could short. As the market was starting to sell off hard, RIG looked like the professionals might have been selling at this point as price had moved below the 20 ma. As I entered after a failed 5 minute buy setup price moved lower quickly, I kept this tight and moved my stop to break even after only 6 cents in profits because I felt this was kind of a long shot going into lunch. Well, I was right, price moved back up hitting my break even stop and continuing sideways. Oh well, something is bound to work, hopefully sooner then later!
RIG