Thursday, May 23, 2013

Entering Half size USO June $33 Calls

It doesn't look like there's a high probability pullback, although I suspect USO would likely move with most risk assets. This is one position that is discounted already, I've been expecting a move up and the charts are in great condition outside of intraday and intraday they are in good condition.

Since SCO has a lot less draw down, I'll leave that open (Oil 2x short ETF) until I feel strongly enough to enter the other half of the USO Call position.

Again, these are all Speculative and should be money you can afford to risk. In other words with the profits of the last 2 days, I have some funny money that I can afford to risk.

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