USO is up and I will hold on to the USO calls here simply because the USO divergences are large and through out many timeframes including some pretty long ones. I just don't think the USO cycle for a bounce could be unwound that fast even if they wanted to, in essence I'm saying the positive divergences for a USO bounce cycle are large enough that I think it would take a lot more upside to unwind the position even if they wanted to do so very quickly, it's cycle was set up a while back and it's much larger than GLD's or GDX's.
5 years ago
No comments:
Post a Comment