I’m shorting PTR this morning. It gapped up Friday and then gapped up again today. It didn’t close Friday’s gap, but by my calculation, it is overextended. I got in at 182.30 and – so far – have watched the price action pivot around that point. I may have been a little too patient getting in, but I’m still learning how to do this.
ATR is $4.00, which is nice. I should be able to pick up a couple of bucks on this one today.