I very seldom take out short positions. This one will be the...

I very seldom take out short positions. This one will be the first one in a while.

Not exactly sure why you're sounding to be so emotionally invested in your reply, as if truely either one of us cares what the other thinks. You seem to be putting much emphasis on all these indicators, and if they work for you that's great. However, my style has never really focused too much on technicals. I believe in the right price and follow through confirmations using my own methodology.

I like to run tight stops on certain trades, as a 2.8% move in terms of dollars for this short is in the thousands for me. It allows me to sleep a night. I do feel quite comfortable with my short position today just based on how much this stock has run up during the oil bull market, and its relative fall with the price of oil.

Just talking about the POO in general, I am of the view hat we won't see much higher oil prices any time soon. The reason is simple- just plain politics and also the average cost of getting a barrel out of the ground. Particularly in terms of politics, the world is way too fragile right now to sustain high oil prices. It's not part of the trump agenda for example and we have all seen what happened in France if people see a gross increase in the price of such an inelasic everyday commodity.

Without rambling on, I am comfortable shorting BPT because the initial reason for my buy was strictly for a rebound. Oil is in a bear market now, and the future is too uncertain to go long and hold at these levels. We also don't know what the aud is going to do which is why over 80% of my cash assets are in USD. All my 20% gain has already been converted to USD and distributed into my bond and gold portfolio. I mention the aud because the Australian maker in general has underperformed big time in comparison to the US markets. This is why I only like to short term trade the asx unless it is truly a fantastic opportunity, which I thought bpt at 1.30 was.

As for the "I'll thought out plot", no single person on HC has control over anything as we are all at the mercy of markets. So don't get too personal on other persons views even if they seem idiotic or controversial. It makes you sound desperate and arrogant. However, I do wish you a prosperous 2019 and beyond.

GLTAH and DYOR