Clicky

Mid-day Market Update, Long Trade Ideas Updated

The US equity markets continue to move sideways within the trading ranges that have formed over the last several months but it is worth noting that the SPY ($SPX) is now sitting precarious close to the bottom of its 3 month trading range which runs from about 198 up to 209. The QQQ ($NDX) although [...]

Jan 29, 2015 1:08pm|Categories: Completed Trades - Long, Equity Market Analysis, Gold & Commodities|Tags: , , , , , , , |Comments Off on Mid-day Market Update, Long Trade Ideas Updated

USO Crude Oil Update

USO 60 minute Jan 22nd USO (crude oil ETF, along with UCO, the 2x long crude ETF) is current trading at the bottom of the recent trading range although we now have double positive divergence (back to back bullish divergences) on the 60 minute time frame. Those divergences would still remain intact should [...]

Jan 23, 2015 1:09pm|Categories: Completed Trades - Long, Gold & Commodities|Tags: , |Comments Off on USO Crude Oil Update

UCO/USO Crude Oil Update

These are the latest 60 minute charts on both UCO (2x long crude oil ETF) and USO (1x long crude oil ETF). Based on my analysis of the charts, I still expect an decent oversold rally in crude oil from at or near current levels although in hindsight, I thought that the bounce would have [...]

Jan 21, 2015 2:53pm|Categories: Completed Trades - Long, Gold & Commodities|Tags: , |Comments Off on UCO/USO Crude Oil Update

UCO/crude oil objective entry or add-on

As these 60 minute charts on UCO & CL (crude oil futures) indicate, crude has pulled back to support following the recent breakout and thereby offers an objective new long entry or add-on to an existing position (of CL, USO, UCO, OIL, etc...). The potential price targets for UCO remain the same however, stops should [...]

Jan 15, 2015 1:09pm|Categories: Completed Trades - Long, Gold & Commodities|Tags: |Comments Off on UCO/crude oil objective entry or add-on

Flexible vs. Rigid Trading Plans + Crude Update

The point of this post is two-fold; First, to discuss the pros & cons of employing a flexible vs. rigid trading plan and secondly, to make a quick update on UCO/crude oil. Some traders practice the use of rigid trading plans, whereby they identify exactly where they will book profits or take a loss (stop [...]

Jan 14, 2015 4:21pm|Categories: Completed Trades - Long, Gold & Commodities, Trading Tips|Tags: |Comments Off on Flexible vs. Rigid Trading Plans + Crude Update

Temporarily Suspending Stops on UCO

UCO closed 6 cents above the first suggested stop of 7.50 yesterday & is currently indicated to gap just below that level. However, with crude trying to claw its way back from the overnight losses, I plan to wait until 10:00 ET before stopping out if UCO is still trading below 7.50. Discretionary modification of [...]

Jan 13, 2015 9:24am|Categories: Completed Trades - Long, Gold & Commodities|Tags: |Comments Off on Temporarily Suspending Stops on UCO

Long UCO For A Short-term Bounce

UCO 60 minute Establishing an AGGRESSIVE long position in UCO (2x Long Crude ETF) here around the 8.18 level with any or of these horizontal resistance levels as potential bounce targets. My minimum preferred target will be set just below the 10.58 resistance level with a two-stage stop parameter of 7.50 & 7.10. [...]

Jan 6, 2015 2:26pm|Categories: Completed Trades - Long, Gold & Commodities|Tags: |Comments Off on Long UCO For A Short-term Bounce