As a near term (Swing +) trade idea which I've already posted on an equity short basis and a USO May 15th $20 put, I believe this is the scenario mentioned last week, a head fake move above resistance before a pullback, whether purposeful or not, I believe it serves the same function which is summed up as "From failed moves come fast reversals".
I'll be filling out the USO equity short to a full size position as well as the USO May 15th $20 put position (filled out to full size.
This is all based on the ongoing analysis with the most recent post from today, USO Update,
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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