Oil's major trend is still down. Critical price for today $89.42.Going through that price to the downside targets $86.44.I sense there should be in rise in oil today, if lucky to 91.24 to 91.52. If oil can get there, I'd short it. I'm not confident about the numbers in this paragraph and how to play it today.I would say I think today is a bullish day within a bear trend but again not super confident.
I sold the other half position of UCO today at 42.80. I am a crude free man right now.
I haven't sold my UCO yet, db, but I may regret that and wish I'd followed your example...At least now we know what the symbolic gesture of releasing 32 minutes worth of oil per day for one month gets you: a few dollars a barrel for about three days.OK, OK, I know there's more to the past week's gyrations than the SPR release, but I have to laugh at people going nuts over an injection of 2 million barrels a day for one month.
Kind of wish my sell orders had been triggered a couple of days ago. Oil is in no man's land now. I'd give equal odds on it taking another leg down, as it going higher from here (20 day average).
Sold half my UCO at 40.30...6% profit. I'll hang on to the rest as admission price for the show going forward.
looks like silver will close almost exactly at the $33.80 price. I won't hold it overnight, I just shut it down, try, try again tomorrow. sucks!What was impressive is how the silver miners moved up.don't get in front of the great locomotive to pick up that dime on the tracks:)Have a good evening folkschem
The stop holds your risk to 1% on a double etf, while if silver does somehow targets the mid to low 20's from current $33.80, there is a potential 40-60% potential gain.I'd have to be holding overnight for a few nights, which is something i don't like to do but the risk seems worth it.$33.80'ish ...watch it carefully for clues
I know there is some euro stuff today. If the dollar index can close daily above 76.97 (so euro tumbles) I'd say get out of everything long. I'd say all commodities and indices get wacked and a 2008 type 30-50% down side becomes more likely.
took a small short position when oil hit 91.21, was hoping it went higher.