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Online Stock Trading | Marathon Oil Corp. – 5 080706

by Online Stock Trading on August 7, 2006

Notice the same fluid technical trading that we saw on the daily chart, as Marathon Oil Corp. pulls back. The stock was entered with a full lot at the trigger buy, but remember a 1/3 of that would be a swing trade. A stop was set at the bottom of the candlestick trigger bar for the other 2/3 stock position. Note that for aggressive traders, the stock could have been added at points 1 and 2. The online stock trading guy actually did this. This can be a powerful way of multiplying gains, but adds risk to the trade. Stops are tightened quicker depending on how action is developing. 1/2 of the position was sold for 2+ R near the top P, Pivot. The 2nd 1/2 of the 2/3 stock lot was sold as indicated. The add points were a nice bonus :)

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We’ll see what tomorrow brings with the swing trading position in Marathon Oil Corp. We’ll also look for a possible entry into PTEN, Patterson-UTI Energy Inc. as it’s daily stock chart is looking ready.

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Oil stocks seem to be the place for decent online stock trading.

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