PWE is one of my favorite dividend plays, but the way they game this thing can make a strong man cry. PWE behaves like a high school drama queen, with major fluctuations either direction as the stops get wiped and the shorts get hammered. With the renewed vigor in XLE PWE has taken off again after an ex-div implosion on the 27th. That was a buy. Catch it next round on July 26-27th.

And the high yesterday was...47.85!!!!!! No, I'm not a mathematical genius. I just used the statistical probability that with solid TICK momemtum behind them and the FOMC dynamics on hand the Qs would hit R2...and they did. Exit on close with the shorts is the way to play those vignettes. Happens all the time, which is why I use the pivots as intraday targets. I think Q trading is going to get a little dicey for the next few days as the 4th approaches. We are at the cusp of the month, so I'm leanng towards a low volume move up followed by another leg down after the 4th. R2 target for the Qs today is 48.00...which seems like a long way except the Qs opened at R1 47.79, and the TICK is upslope as I write this.