All energy related stocks have been crushed hard the past few days. We felt that natural gas stocks were more prone to bounce than oil so we decided to swing our $COG (Cabot Oil & Gas stock) position into tomorrow. We were correct that a bounce would take place today, but only after an early morning dump by institutions who were not finished selling the day before. We should have loaded up more on the fall to $21.30 but decided to play it safe and just ride the position instead of adding to it. After selling out, the tape was telling us to get back in so we did and rode the trade up another 65 cents.
Netted a profit of $7,7797 in a matter of a few hours worth of trading.