UCO has an interesting setup to go long at the open, ideally if we make a new daily low here. We can enter at the open, but it'd be nicer if we hit 8.91, risking a drop to 8.35.
Upside is considerable, and this ETF uses up half the cash compared to UCO, so it's a good vehicle to ride the post-OPEC meeting rally -if correctly diagnosed-.
Good luck,
Ivan Labrie.
Upside is considerable, and this ETF uses up half the cash compared to UCO, so it's a good vehicle to ride the post-OPEC meeting rally -if correctly diagnosed-.
Good luck,
Ivan Labrie.
Comment:
If you followed my trade here, you're up big time. Premarket: 9.85
Trade closed manually:
Sold at 9.85. I'll wait to reenter tomorrow if we get a dip...if not, I'll buy back if above my exit on close.
Comment:
I'm holding futures/CFD longs, and OXY shares. We have potential for considerable upside here, so, we can look to reenter tomorrow, if we get a dip, if not, we are forced back in as well, risking a drop to the initial entry, with the same size.
Trade closed manually:
I sold OXY and all positions 2 days ago.