USO Update

I entered a partial equity position in DTO last week, it's close to green/break even, yesterday's USO Aug. $38 put is in the green.

I waited quite a while for a USO/oil position, but finally took it. I think there's a decent chance for an intraday bounce if you are interested in USO/oil, but I think the short-to-intermediate term move is going to correct to the downside.

 USO 1 min looks like it could bounce intraday, in fact many assets from tech to financials have the same look on very short term intraday charts, they look as if they could bounce intraday, but beyond that don't look good.

I'm surprised they look like this and are acting like this before Bernie speaks tomorrow, for that reason I'm somewhat cautious unless of course what he is going to say is already known.

If the 3C charts continue to act today like they did yesterday, then I think there's a good chance of a leak on his tone tomorrow.

 USO 2 min also looks like a possible bounce, remember I said AAPL looked like it was in a triangle that could see an upside head fake? That triangle is very tight, it's do or die time for that price pattern.

USO 15 min, this is around the timeframe (swing-corrective) that I'm trying to take advantage of.

However at 60 min where the trends are very clear, there's a clear negative in place right now.

Crude futures 30 min, again about the timeframe I',m looking to capitalize on.