"CVX - longer term entry maybe. " by trader Reallifetrading — published December 01, 2014

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Long

CHEVRON CORP (NYSE:CVX)

NYSE:CVX CHEVRON CORP

CVX danwalsh

cvx danwalsh

Closed below the 200 SMA on the weekly.
Bearish retest Gap. Dan Walsh is looking for a longer term entry and trade.
IF CVX closes above 112, I would be more bullish than bearish for the short term. If CVX breaks the 108 low, could buy protective puts.

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I'm in CVX - Got in on 12/18 after the gap up , missed the retest but got in bout 107.38 w/ my stop at the low of the day 105.44 - I sold half my shares at 111.38 for 2r and continue to hold to about 1/2 y shares until 120 (maybe longer). I will move my stop up as CVX has Higher higher retraces and forms good pivot . Looking for covered calls 121 ish..... Great trade so far

Dan.Walsh.Loves.Lous.Sushi.Dow

Sweet. :)

Is the trade active atm eventhough there's a bearish retest gap?

tantiush

Yep. I mention that in the notes (about the gap). I'm personally not going to take the trade - for that reason but I don't hate it...

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