Monday, April 15, 2013

WTI Crude Oil -Time To Get Long?

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WTI Crude Oil tested $87 today, we could see a bit more selling to $85. ITZ suggests phasing into Proshares Ultra CrudeOil (UCO) Buy-Zone $25/$26. If still in Proshares SCO, run a tight trailing stop.






Mark Fisher

16 comments:

itzstockchartz said...

Taking 1/4 position in UCO @ $25.85

itzstockchartz said...

added 2nd 1/4 position $24.85

itzstockchartz said...

As ITZ types UCO is testing $27.20, suggest placing a stop on 1/4 @ $27 the other 1/4 position @ $26.50

itzstockchartz said...

Followup to stops, ITZ is using a trailing stop 1st being an 8 ema the 2nd a 21ema based on a 60 minute chart. Adjust accordingly

itzstockchartz said...

going into today's close current stops now $27.40 & $26.85, follow on Twitter

itzstockchartz said...

Update using trailing 8ema & 21ema stops as mentioned prior post, stops are now $27.65 & $27

itzstockchartz said...

Oil strong today... again adjusting stops $27.75 & 27.15 $UCO (cost basis $24.80 & $25.80)

itzstockchartz said...

UCO STOP $27.90 & $27.25

itzstockchartz said...

UCO $28.10 & $27.45 STOP

itzstockchartz said...

As of open today 1st Stop (8ema) $28.50 ; 2nd level stop 21ema $27.80

itzstockchartz said...

1st stop hit $28.50 vs purchase 4/16/13 of $25.85 = +$2.65 or +9.19%

itzstockchartz said...

Raise 2nd stop to $28.30 (21-emq on 60 minute chart)

itzstockchartz said...

Raise STOP on $UCO to $28.50

itzstockchartz said...

Adding to position $UCO 1/4 position @ $29.38 maaintain same stop level.

itzstockchartz said...

UCO cost basis (1/4) position Apr 17 @ $24.85 & (1/4) on Apr 29th @ $29.38 Set stop on entire 1/2 position @ $28.75...again 21 ema on 60 minute chart

itzstockchartz said...

UCO hits stop... +15.7% on April 17th entry & -2.14% on entry yesterday