Subscribe in a reader ITZ suggested entering Proshares Ultra Short Crude Oil (SCO) last Friday @ $32.25 with a 1/2 position. The charts indicated a pullback off the $110 level for WTI crude oil towards the $103/$104 breakout level. ITZ raised the stop earlier this morning to $33.90 soon after the stop was hit. So, we exit with a $1.65 profit or +5.11% in 4 days.entry link & update link
For now ITZ is on the sideline, looking to enter WTI Oil on the long side via Proshares Ultra Crude Oil (UCO).
As for the Proshares Ultra Pro Short S&P500 (SPXU) the current stop there is $10.25 with the etf trading $10.32. We could see that stop hit today...or near term.
