Friday, October 19, 2012

USO

From yesterday's USO short trade idea, USO didn't quite make the head fake move I am looking for to turn that in to a short position, it did gap up and it is negative on a lot of short to intermediate timeframes as it has been, if you are short USO on this gap up I'd suggest a trailing stop. I still think it will likely make a clear head fake move above resistance, but that doesn't mean you can't make a few $ on this move today, especially if you got in at the gap up.

I'll get some charts up next

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