Subscribe in a reader 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
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Taking 1/4 position in UCO @ $25.85
added 2nd 1/4 position $24.85
As ITZ types UCO is testing $27.20, suggest placing a stop on 1/4 @ $27 the other 1/4 position @ $26.50
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
going into today's close current stops now $27.40 & $26.85, follow on Twitter
Update using trailing 8ema & 21ema stops as mentioned prior post, stops are now $27.65 & $27
Oil strong today... again adjusting stops $27.75 & 27.15 $UCO (cost basis $24.80 & $25.80)
UCO STOP $27.90 & $27.25
UCO $28.10 & $27.45 STOP
As of open today 1st Stop (8ema) $28.50 ; 2nd level stop 21ema $27.80
1st stop hit $28.50 vs purchase 4/16/13 of $25.85 = +$2.65 or +9.19%
Raise 2nd stop to $28.30 (21-emq on 60 minute chart)
Raise STOP on $UCO to $28.50
Adding to position $UCO 1/4 position @ $29.38 maaintain same stop level.
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
UCO hits stop... +15.7% on April 17th entry & -2.14% on entry yesterday
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