Wednesday, May 18, 2011

USO / SLV updated stops

We are getting a really nice move today in commodities across the board.

This is the CRBQ Global Commodity Index

However, the real movers today seem to be Silver and Oil/USO so it's time to look at those stops.

 SLV I widened the channel out to 60 minutes, which still gives you a profitable trade, but allows room for the inevitable consolidation that we should see on an intraday basis, this hopefully will allow you to catch another leg up. For other silver ETFs just email me for the particular stop (BT46N2@Gmail.com)

 USO on a 30 min chart should allow for a correction,

However the wider 60 minute would be my choice presently, it will still take you out if all goes wrong at a decent profit.

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