This trade would most likely be a flip, but I want to look at it now as the dollar is strong, should we get a reversal of that strength in the afternoon, USO should benefit.
Friday, April 13, 2012
USO Update
Yesterday when I closed the model portfolio (options) calls in USO, I was looking for a place to pick them up again on a pullback. I'm thinking I'll add a small call position in USO in the area.
1 min positive
2 min positive
5 min weak relative positive
15 min still pretty strong.
This trade would most likely be a flip, but I want to look at it now as the dollar is strong, should we get a reversal of that strength in the afternoon, USO should benefit.
This trade would most likely be a flip, but I want to look at it now as the dollar is strong, should we get a reversal of that strength in the afternoon, USO should benefit.
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