This is an Equity position only, I 'll use DTO 2x long Crude. The stop in this case I plan on is $31.40 and the target is $40- $42. A pullback to the $33.10 area would be nice and I may try to wait that out.
This will be half a normal full size equity position as it is speculative.
Here are the USO and CL (Crude Futures charts...
USO intraday has been fairly in line, it did go negative intraday yesterday at the highs.
The 5 min chart is leading neg.
The 10 min chart and 15 are leading negative.
DTO is leading positive out to 30 min, about the same as the futures indicate.
Crude Futures...
The CL 1 min chart suggests a bounce (pullback for DTO) intraday, that would lower the risk.
However the 15 min is very nasty looking
As is the 60 min.
These really look worse than anything I've seen in oil and I've stayed away from it, here I'm, willing to take a small chance on it with a fairly tight risk management plan.
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