Tough Out There Today

It feels as if this market doesn't know what to make of the past two days' worth of data, nor the words we've heard from the Federal Reserve. The action continues to be tight and whippy, which can make for some tough trading. Meanwhile, there have been some intermittent power outages in the area, which hasn't been helping my cause -- my intraday activity will be a bit limited for now.

I've made two moves though what I view as multiday positions, so if the power goes out again, so be it. I'll just sit with the laptop, but I won't worry on them. First up is a quick trip back to Wednesday's Marathon Petroleum (MPC) setup (see here and here). The stock successfully retested breakout levels from Wednesday, and I was able to pick the stock up at $90. I decided to go with the stock rather than the options, since the market there had been a little thin further out, which had created wide spreads. The target here is still $94....159 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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