tag:blogger.com,1999:blog-1004113796227109854.post1901403268574694774..comments2023-07-21T12:05:20.381-04:00Comments on ~ ITZ STOCK CHARTZ ~: Crude Oil Break Outitzstockchartzhttp://www.blogger.com/profile/17398018561859650957noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1004113796227109854.post-24213411761534350052012-07-24T09:38:10.914-04:002012-07-24T09:38:10.914-04:00Update: On 7/19 ITZ noted 'reducing' long ...Update: On 7/19 ITZ noted 'reducing' long exposure to crude oil. UCO was trading around $32.75. ITZ reduced exposure by selling 1/2 position against may 9th & May 23rd entries. cost basis $34.35. Taking a $2.00 loss. Current position from 5/31 $29.25 & 6/1 $27.40 = avg $28.35. Lets place a $29 stop. ITZ was looking for a IHS throwback to the neckline on WTI oil around $89. However the Gold:Oil ratio chart is giving a SELL .... lets give it a few more days...we could be seeing a similar pattern to that of Mar-May 2011.itzstockchartzhttps://www.blogger.com/profile/17398018561859650957noreply@blogger.com