Trade Alert
The SPX500 continues to work its way in a stair step fashion into its daily cycle low. It is possible the low is already in, but as we near the declining 20DMA here, there is a good reward to risk ratio for a shot at one more move down. Bought 10% size of SPXS @ … read more Trade Alert
Trade Alert
We apologize for the short trade, but with Hurricane Harvey continuing to intensify, and predictions of massive rainfall over TX growing by the hour, we’ve decided that the risk in oil right now is too great. Sold UCO @ $15.42
Trade Alert
Hurricane Harvey is bearing down on Texas right now. Traders tend to pile into gas refinery trades and sell oil in these situations as the refiners have the higher negative implications in the short-term (less refinery output equals higher gas prices). They drove oil down to a support level here and we’re going to take … read more Trade Alert
Trade Alert
We continue to try to catch the bottom of the Daily cycle in oil. This morning, oil dropped to test the 50DMA, and is starting to bounce a little. Bought 15% UCO with good reward-to-risk. Bought 15% size of UCO @ $14.96 Target @ $16.50 Stop @ $14.65
Trade Alert
The S&P 500 is in the timing band for a move into a daily cycle low, and has now given us a technical setup that often produces a good trade. The 9 day exponential moving average crossed the 20 day simple moving average on strong volume, and then it rose back up to test the 20DMA. … read more Trade Alert
Trade Alert
The Fed released minutes of its July Open Committee meeting, and it shows division amongst members on when to raise rates next. With some participants expressing concern about the recent decline in inflation, traders are taking that as a sign that perhaps rates hikes aren’t quite as imminent as expected. Typically, low rate hikes are … read more Trade Alert
Trade Alert
Unfortunately, the market did not take kindly to this morning’s crude inventory report, and oil continued to sell off. While we had our ERX stop listed as $22.30, we decided to exit when the 2B low on XLE and the uptrend in oil was broken. As we explained previously, we chart non-leveraged charts, but trade … read more Trade Alert
Trade Alert
We have been watching for Oil to complete a daily cycle low. It is currently right in the timing band for a low, and is at trendline support. In addition, XLE—an ETF that tracks major oil companies, is potentially producing a 2B bottom today. OIH—an oil services ETF is also down 9 days in a … read more Trade Alert
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