Thursday, August 4, 2011

Proshares UCO Update 8-4-11

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ITZ is suggesting lowering the current STOP level on Proshares Ultra DJ-AIG Crude Oil (UCO) from $37 to $36. ITZ is set to enter the 2nd half position around $37 as the BLS Jobs Report, out 8:30 am Friday approaches. Markets are deeply over sold and due for a near term rally. On the S&P500 ITZ is looking at 1225 as support. WTI futures are now breaking under $90 FUTURES QUOTES

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