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Since August following ITZ PIX trading via Proshares Ultra Crude Oil (UCO) & UltraShort Crude Oil (SCO) starting with $10,000 would to date be $28,205 for a +182% gain in about 8 weeks.
UCO +21% -- SCO +11.5% -- UCO +13.4% -- SCO +10.75% -- UCO +12.7% -- SCO +5% -- UCO +7.6% -- SCO +9.75% -- UCO 0% -- SCO +11.7% -- UCO +6.64%
Past Posts LINK - LINK
Wednesday, September 28, 2011
Proshares Ultra Crude Oil (UCO) Update 9-28-11
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Proshares Ultra Crude Oil $UCO hits STOP of $29.86 - exit with +1.86 gain or +6.64% entered last Friday LINK Not getting short oil here via $SCO... looking to get back into $UCO again....sidelines for now.
Proshares Ultra Crude Oil $UCO hits STOP of $29.86 - exit with +1.86 gain or +6.64% entered last Friday LINK Not getting short oil here via $SCO... looking to get back into $UCO again....sidelines for now.
Tuesday, September 27, 2011
WTI Oil Outlook 9-27-11
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Gold snapped a four-day losing streak Tuesday. Oil also climbed over 5%. So what's next for commodities? Jim Iuorio, TJM Institutional Services, and Dan Dicker, Mercblock, weigh in.
Monday, September 26, 2011
Sunday, September 25, 2011
Have Gold & Silver Bottomed?
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What a brutal week it was for gold, silver and commodities market. Several factors contributed to the selling we had the FOMC statement and assessment on the economy..."Significant Downside Risk".
That adjective wasn't what the markets needed to hear to rally. Operation Twist was basically the Fed rolling short term debt into long term and not increasing the balance sheet. Strike Two - Europe- not being able to deal with the pending Greek default. The China news of a third consecutive month of slowing manufacturing. Add in the CME raising margin requirements on gold and silver.
All this made hedge fund managers nervous, not only were they getting margin calls, thus forcing them to sell winners like gold. Now they had both equities and commodities under for the year and redemption's kicked in. The safe have gold was trumped by short term money flow issues. Gold didn't get hit as hard as silver, because of its industrial use. But gold hasn't seen a move down like this since the '80s.
Looking at the technicals for support -- Silver broke below 50% Fib retracement as well as 61.8% $29.20 is support. Next would be a drop to $25. Silver needs to break over $32.50 for bears to get nervous and to get bullish on silver a break over $34.
As for Gold $1650 is support next followed by $1620/$1610 and resistance is $1700, but gold needs to get back above $1780 for bears to become flustered.
click on chart to expand images
What a brutal week it was for gold, silver and commodities market. Several factors contributed to the selling we had the FOMC statement and assessment on the economy..."Significant Downside Risk".
That adjective wasn't what the markets needed to hear to rally. Operation Twist was basically the Fed rolling short term debt into long term and not increasing the balance sheet. Strike Two - Europe- not being able to deal with the pending Greek default. The China news of a third consecutive month of slowing manufacturing. Add in the CME raising margin requirements on gold and silver.
All this made hedge fund managers nervous, not only were they getting margin calls, thus forcing them to sell winners like gold. Now they had both equities and commodities under for the year and redemption's kicked in. The safe have gold was trumped by short term money flow issues. Gold didn't get hit as hard as silver, because of its industrial use. But gold hasn't seen a move down like this since the '80s.
Looking at the technicals for support -- Silver broke below 50% Fib retracement as well as 61.8% $29.20 is support. Next would be a drop to $25. Silver needs to break over $32.50 for bears to get nervous and to get bullish on silver a break over $34.
As for Gold $1650 is support next followed by $1620/$1610 and resistance is $1700, but gold needs to get back above $1780 for bears to become flustered.
click on chart to expand images
Friday, September 23, 2011
Exit SCO...Get Long Oil Via UCO
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Time to exit the short position in WTI Oil. Yesterday ITZ suggested entering Proshares Ultra Short Crude Oil (SCO) @ $57.30...sell around $64 for a +11.7% return in 2 days. Lets get long Proshares Ultra Crude Oil (UCO) @ $28.
Time to exit the short position in WTI Oil. Yesterday ITZ suggested entering Proshares Ultra Short Crude Oil (SCO) @ $57.30...sell around $64 for a +11.7% return in 2 days. Lets get long Proshares Ultra Crude Oil (UCO) @ $28.
Thursday, September 22, 2011
WTI Oil Heading to $75
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Itz exited Proshares Ultra Crude Oil UCO yesterday @ its entry level of $32 and went short oil as it broke under $85 a barrel. WTI continues to escalate lower as risk comes off following disappointment from the Federal Reserve statement yesterday. ITZ suggested entering Proshares UltraShort Crude Oil SCO @ $57.30. SCO Chart
Itz exited Proshares Ultra Crude Oil UCO yesterday @ its entry level of $32 and went short oil as it broke under $85 a barrel. WTI continues to escalate lower as risk comes off following disappointment from the Federal Reserve statement yesterday. ITZ suggested entering Proshares UltraShort Crude Oil SCO @ $57.30. SCO Chart
click on chart to expand image
Wednesday, September 21, 2011
EXIT UCO ENTER SCO
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WTI Crude Oil breaking below $85 Stochastics turning bearish exit Proshares UCO @ entry price of $32. Entered Proshares Ultra Short Crude Oil SCO @ $57.30.
WTI Crude Oil breaking below $85 Stochastics turning bearish exit Proshares UCO @ entry price of $32. Entered Proshares Ultra Short Crude Oil SCO @ $57.30.
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