Subscribe in a reader ITZ entered Proshares Ultra Crude Oil (UCO) back in October 2011 taking full and partial positions and is currently 75% long. Here are the posts Read & ITZ upside target Read
Current chart shows more upside for UCO, with a few resistance points.
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Followup to today's post- for sake of explanation on trades; ITZ entered back in October say 400 shares @ $25 = $10,000. sold 50% (200 shares) $43 then bought back 200 @ $37 sold 100 @ $44. Then bought 100 @ $41 and was stoped out of those 100 @ $41. Bottom line $10,000 starting investment, now 300 shares @ $47.61 + $5600 cash = $19,880 or a 98.9% return in 5 months. Continue to hold 300 shares..will update on STOP
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