WTI Crude Oil has pulled back after touching its 200-ma $100ish December 26th. ITZ was stopped out of Proshares UCO on 12/27 @ $32.90. Let's start legging into @ $30.75 with a 1/4 position.
added 3rd 1/4 position this afternoon @ $29. Current entries are $30.75; $30.25 & $29 avg cost basis = $30. Will keep posted on this blog & Twitter as to final 1/4 entry. Note UCO closed today @ $29.10
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9 comments:
Add 2nd 1/4 position here $30.15
looking to add to position around $29 (3rd 1/4 position)...EIA reports in 5 minutes
added 3rd 1/4 position this afternoon @ $29. Current entries are $30.75; $30.25 & $29 avg cost basis = $30. Will keep posted on this blog & Twitter as to final 1/4 entry. Note UCO closed today @ $29.10
Add final 1/4 position @ $28.80
Suggest setting stop on entire position @ $30... cost basis $29.70
ITZ was stopped out of UCO on Jan 27 @ $30
Entered a 1/4 position today in $SCO @ $32.25
EIA y'day +6.4M bbl build...
Crude is trading @ $98.45 ITZ is adding to Proshares UltraShort Crude OIl (SCO) here @ $31.45 (1/4 position)
Recap: $32.25 & $31.45 = avg cost thus far $31.85
set stop on $SCO to $31.85 on 1/2 position (break even level)
$SCO exit $31.85 flat
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