Wednesday, April 18, 2012

Buying USO Calls

I'll be adding USO May $39 calls as soon as I'm done with this post in advance of the EIA Energy report at 10:30 today-pretty much all we have on tap in the US.

When I closed my May $38 Calls yesterday morning, I said I would be looking to buy on a pullback and accumulation, below are the 1,2 and 5 min charts, all positively divergent.




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