AMEX:UCO   PROSHARES ULTRA BLOOMBERG CRUDE OIL
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$CL_F looks bullish to me - could this be the catalyst for $SPY rollover?
Maybe if Iran nukes israel... Oil inventories are at the top of the 5 year band... Oil is in a place it doesn't belong...
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I'm planning to sell here - looks more like a top to me. But a trade above 109.5$/bbl would change my mind
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not when CL gets over 110 it wont be - Gasoline sticky over $3.00 now nationally - kills consumer discr as well as corporate profits
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Yeah agree - reaching the max pain threshold for energy prices. Can't take much more pain. I posted this, this morning. Compliments your findings here well.
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Thanks!
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Big Bull with sharp horns there! Usually CL higher is good for SPX - maybe one/two weeks more higher now with weakness to come late August into the September dramarama? Makes sense to me...
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