Today’s Trade 10-19-11

 

Great shooting star which is right at a strong supply level from late September. This marks the third time that price has retreated to these highs, thus weakening the supply level, however, in looking at how price moved down last time, i’d say that there is not a shortage of supply at this level!

Here is how the trade sets up:

— Short below $62.50
— Stop $65.70
— Target $51.50