SCO Ultrashort Crude which I have as a trading position long has put in a nice gain today, I have about a 4% loss in the position, but I do like the sub-intermediate charts, meaning I think it moves up in the next several weeks, but today on an intraday basis, it looks close to having topped and may look to fill the gap around $27.70-$27.85 (usually it's more than just a gap fill). I'm going to hold on to the position because as I said, I do like its prospects. What will be interesting to see is if $USD weakness causes Oil strength as the old legacy arbitrage that has been kind of dumped the last several years on the Bernanke put. In any case, I'm going to hold and I'll try to get some charts up soon for SCO/USO.
5 years ago
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