Base & Break - Valero Energy Corporation (Public, NYSE:VLO)

VLO which I traded yesterday, set up a B&B short just as crude inventories were released at 10:30. Looks like an H&S top. Partial as price approached S2 and out at $50.00. Round numbers attract buyers. Second trade set up when VLO regained S2 on closing basis, then immediately gave it back.

NB - The first trade is high risk because of increased volatility following the release of crude inventories. I only traded half my usual size on the first setup because of the increased risk.

FSLR was a HCPG pick at $251 -250. I hesitated at $251 and ended up getting in much lower following NR7. In hindsight, $251.00 was the best spot as it pivoted there again intraday.

OXY, another stock I shorted yesterday, based along the blue line all afternoon, carving out a series of lower highs. So I knew it was going to breakdown, eventually.

CLF was a C&H base and break, but I felt the market would roll over anytime, so when it retested the initial swing high, I partialed out and tightened my stop. We did roll over, and aggressive traders short failures. After failing, CLF retested the base from beneath and reversed. A nice short would have been a break of the blue trendline.