jamison.gaddy

Almost hit my 18% goal. Risk increases into resistance

AMEX:USO   UNITED STATES OIL FUND
50 0 1
Early May we discussed that bulls were attempting to absorb supply and that prices should breakout and test the next level of resistance near $13.00. It has been a great 14% trade; however, cumulative demand is contracting. It does appears to be worth the risk of giving profits back. Anticipate we will start to see some liquidation to protect profits and reduce risk.
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