7 replies to this topic

[hiker]

an audio and video link..turn on speakers -

http://www.tic-tac-d...om/VIDUSO1.html

he explains why it found support this week

Edited by hiker, 17 January 2007 - 07:33 PM.

[PorkLoin]

STEVE, S w e e t ! ! Great hearing it explained like that. I love this stuff. Best, Doug

[vitaminm]

USO/pnf wkly

http://stockcharts.c...=USO,PLTAWANRBO[PA][D][F1!3!!!2!20]&pref=G

dly-atr

http://stockcharts.c...=USO,PLAADANRBO[PA][D][F1!3!1.0!!2!20]&pref=G

[vitaminm]

USO Current Price High Value Change Percent Change Dividend Previous Close $ 44.22 $ 44.35 $ 0.82 1.89% 0.00 $ 43.40 Pivot Table R2 R1 Pivot S1 S2 45.41 44.82 43.76 43.17 42.11

[SilentOne]

I bought some USO this afternoon (@ 43.10). I'm assuming Ted's line is going to hold here for a multi-week bounce. We'd need a close above 43.5 for that. I'll add a little more next week if I am not offside today. cheers, john

[chris]

Wow! Ted puts me to sleep. He's gotta talk a little faster and get rid of that monotone.

[PorkLoin]

Chris, he sure is mellow, eh? 2007 has had big volume in USO and I wonder if this is climactic action we're seeing? Today was 13,500,000 shares. I think some things are lined up for bottoming action and a rebound, but sure looks like the 50 - 55 area would be stiff resistance and tough to get through. Not really looking for a fast rally in crude oil, either. Might have a reduced range for USO and oil this year. Best, Doug

[SilentOne]

Hi doug,

I think some things are lined up for bottoming action and a rebound, but sure looks like the 50 - 55 area would be stiff resistance and tough to get through. Not really looking for a fast rally in crude oil, either. Might have a reduced range for USO and oil this year.

I don't see USO going above $55, but it should prove to be a good trade into March. A bounce from this level into the 50s would work for me as a trade. There are lower targets for USO later this year if this level does not hold as support.

I actually like listening to Ted. No hype there!

cheers,

john

PS It is not likely to be a good year for energy overall.

Edited by SilentOne, 19 January 2007 - 05:08 AM.