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This was a breakeven trade. USO was looking very weak and I liked how it was testing 33 for the third time. Oil will often make a big move around 2:00-2:30 at the end of open outcry trading. There were also narrow range bars at the ORL in the indexes. Oil and the indexes were both setting up so I was looking for a stock that would move with oil. I chose POT since materials was one of the weakest sectors of the day and MOS and CF had already gone to new lows. I liked the rounded top look. Unfortunately, POT didn't move as much as oil and I was quick to move my stop to break even due to the choppy conditions so I got stopped out on a retrace.
Setup: 60
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