Friday, June 24, 2011

Get Long WTI Crude Oil

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On June 16th ITZ suggested entering a half position on Proshares Ultra Crude Oil ETF (UCO) @ $42.50 see post

Yesterday, Itz suggested that those trading UCO add to their position $37/$38. ITZ PIX added to it's position today @ $38. WTI seems to have settled around the $90 level as traders are digesting the IEA news to tap the SPR as well as the Greek/Euro issues and U.S. economic reports. We could still see oil test lower levels, but ITZ continues to see WTI oil trending higher into year end as supplies tighten.

A look at the long term effect of the IEA's release of oil from the strategic reserve, with Daniel Fisher, MBF Trading.

Discussing whether the release of oil was a good move for consumers, with Bart Chilton, Commodities Futures Trading Commission, and Gordon Bethune, former Continental Airlines chairman/CEO.

Commitments of Traders NYMEX out each week @ 3:30pm

Oil Futures Charts

Past Itz Posts

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