AMEX:XOP   SPDR S&P Oil & Gas Explor & Product
Long based on doji formed from support line. Lots of negative momentum has been stopped temporarily. Tight stop will be in place with a direction to be determined like the overall markets after the midterm elections. Anticipating positive movement before the elections as long positions are taken for a short rebound, opposed to a longer downtrend which will offer a much longer window to capture gains if the downtrend continues.
Comment: Running into resistance at 20day ma stop loss set for half of the position at todays low and remaining at entry price.

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