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#11 hiker

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Posted 13 November 2006 - 04:26 AM

it may be that the one viable trading strategy for USO is simply trading the almost horizontal price channel, since crude oil appears to be rangebound between approx. $56 and 62, until the range is broken on a sustained basis...I am unable to trade it differently until proven otherwise. My two cents for now...the volatility is profitable.

Edited by hiker, 13 November 2006 - 04:27 AM.

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blindness from UV damage to the eyes is preventable for the current younger generations -

elvis wore shades - by the Cleveland Clinic

#12 SilentOne

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Posted 13 November 2006 - 12:08 PM

Hi hiker,

...the volatility is profitable.


Yup, I should have taken profits last week. I set tight stops on 1/2 USO position at $52.5 (and was taken out this am) and will ride the rest for the remainder of the week.

cheers,

john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain

#13 SilentOne

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Posted 17 November 2006 - 01:50 PM

I'm out of this position entirely now for a loss. I guess I gotta watch hiker trade this thing before entering again. :) cheers, john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain