Good idea on the extended weakness. What are you looking for, a move up to that gap around $7?
Perhaps this is a version of the seven day extension fade?
http://www.investopedia.com/articles...n-day-fade.asp
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Good idea on the extended weakness. What are you looking for, a move up to that gap around $7?
Perhaps this is a version of the seven day extension fade?
http://www.investopedia.com/articles...n-day-fade.asp
I actually hate the chart on this puppy as oil looks pathetic. But I am playing this as play on a potential snap-back rally in stocks - possibly before the end of this options expiration week, or next week. Oil could run up 15% to 20% in no time, and this ultra ETF would really benefit. And yes, there is a big gap near 7.40.
I won't thank show-me yet for the heads up on this one, but hopefully next week we will be high fiving each other. :)
Oh, I know. DXO was a bust, I'm glad I took my money and ran from that when I did. UCO is a better option, though I like the prospects for UGA here sitting on support at 20.
By the way, at Lady's suggestion:
UCO = Ultra ProShare, 2X the Dow Jones AIG Crude Oil Sub-Index (DJAIGCL)
http://www.thestreet.com/_yahoo/stor...FREE&cm_ite=NA
"The fact that Exxon was downgraded by both Barclays and Bernstein today but is still seeing upside "means that oil is done going down," Cramer said. "The oil bears are going to have to put up or shut up soon, and I think they're going to shut up."
I don't like DXO because it is a Note and not a Fund.
I have found that some of the new ETF's have a tracking error the newer they are and as time goes on track better to the market.
By the way I really envy you again, nice price.
I have you to thank. Thanks! :)