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nodiggity
Apr 8, 2016 2:12 PM

MPC hits top fib line. Sold. 

Marathon Petroleum CorporationNYSE

Description

I was long at $36 handle on Tuesday. I sold at $38.70 which it is straddling right now at the top of the fib retracement. MPC is outperforming other refiners today like VLO, HFC, PSX.

There is no technical support above $38.70. Either it breaks out to $50+ or rather I am looking to buy another dip below this fib line if there is no sustained upside support for the next few sessions.
Comments
nodiggity
This is the only trade where I lost money.
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