I opened a longer term SCO long position to play the longer term trend, but if I had gone with USO puts, I'd be taking a look at taking profits in to the downside momentum as the $USD is kind of flat right now. There are also some volume issues and unless USO is getting ready to break hard, I'd expect they are signaling a short term correction.
I'm leaving SCO in place, I chose it to ride out a longer term trend and corrections.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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