USO Short / SCO Long

I chose to go with SCO long, there's leverage, but less so pullbacks/corrections are manageable and I can stay with the trend longer. Some of you entered USO puts, they should be at a very pretty penny right now, I'd encourage you to consider taking some profits if not all and setting up the trade again, of course this depends on how you structured the trade, so it's more of a general comment, but based on the gap fills.

 The 60 min 3C chart of USO is quite negative coming off this last swing high. Given the worldwide/US economic data this morning are you surprised oil is lower? I decided to go with less leverage because I want to ride the trend as in the yellow arrow although this could be significantly larger, options require a lot of other variables to be considered that makes following the trend more difficult, but for the move we've had in USO since entering, you should have a huge profit in puts.

Here are the USO gaps including today's, all have been filled, that's why I'd consider using the downside momentum to take maximum put profits before a correction that SCO can easily withstand, but options will be hit a lot harder.

 The SCO (long) position looks great on this 60 min chart and even...

On a 5 min, but I have little doubt today's gap will be filled soon. For those interested in USO short or SCO long, after the gap is filled, that will likely be an opportunity to get involved if you are interested. I will update the charts on any gap fill.