Energy / ERY /ERX

I want to show you why I chose what I did and why I said I think you need to be nimble.

 I said yesterday and today that I thought the chances were good that oil is brought down to a level in which it can be accumulated and sold in to some strength and at least make it back to Friday's valuation before that massive manipulation scam occurred in Crude yesterday. Sure enough, overnight on a negative 3C divergence, crude came down and USO to the exact level I had in mind. There's evidence of positive divergences in crude futures and USO is getting somewhere as well.

 Financials didn't have the same momentum XLE displayed, so XLE looked like a better momentum choice.

 ERY which is a 3X leveraged Bear Energy ETF is showing a 2 min negative divergence, I could have kept the position, but decided to try to trade around it instead and closed ERY and bought ERX.

I suspect I'll be back in ERY again soon though as the 15 min chart is leading positive.

 As is the 60 min chart.

 As for ERX, short term 1 min is leading positive

 2 min is too

15 min leading negative, this is why I think yo have to be nimble.