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Swing Trade Quick Pick: Cimarex Energy (XEC)

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July 30, 2013 – Comments (0) | RELATED TICKERS: XEC

It appears that the market is just fine with remaining in a holding pattern until Uncle Benny decides what his centralized planning for the economy will be going forward. Until then I wouldn't expect much out of these markets.

Considering back in June he really created a mess of everything during his press conference, it looks like the markets could see a lot volatility for better or worse depending on what is in that statement.

Keep Cimarex Energy (XEC) handy. I got into the stock yesterday and it is just now breaking out above the four month long resistance level that was a major road block for it in the past. Assuming this market can hold up, I think it could easily see $80 in the next week or so despite trading at about $76 right now. 

Here's the Trade Setup in XEC:

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