Range Resources (RRC)

Company. "Range Resources is an independent oil and gas company that operates in the East Texas, West Texas, Midcontinent, Gulf Coast and Appalachian regions of the United States." (company website)

RRC stock chart
gain Bottom line
9%

Buy. RRC had been trading below $6.95 for several weeks, with gradually higher lows. I bought after a nice move above $7.00 on higher than average volume.

Right after I bought RRC, the stock got caught in the end-of-September downdraft, then resumed a steady climb upward.

Sell. After RRC made a new intraday high over $8, progress seemed to stop. The daily range narrowed, and the open and close were quite close together for the past two days. When it began to trend lower after the open this morning, I decided to capture what gains I could. The trend is weakening (falling ADX line).

This is primarily a bird-in-the-hand move on my part, combined with a bit of squeamishness about the oil and gas industry. Stocks in the industry seem a bit too susceptible to the impact of news.