I jumped out of my long position in SCO which was a UltraShort ETF on Crude Oil. Made an okay gain on it, but I just didn’t like how oil was reacting to the rally we were seeing in the broader markets.
My only other trade this morning was Savient Pharmaceuticals (SVNT) which I got in at $10.24 with a stop-loss at $9.92. It has a beautiful double bottom, and looks prime for a pop in its share price in the near term.
Here’s the Chart on SVNT.
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