anybody long oil/USO ?
Started by
TheArchitect
, Feb 25 2009 09:46 PM
10 replies to this topic
#1
TheArchitect
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Posted 25 February 2009 - 09:46 PM
anticipating a breakout? I got burned a couple times, a couple weeks ago... so i'm sitting it out for now... maybe a short setup coming at 27.35ish
#2
tomterrific14
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Posted 25 February 2009 - 09:53 PM
http://stockcharts.c...-sc/ui?s= $wtic long UCO ....todays' 42.50 close on WTIC is not posted on the chart here yet
#3
rkd80
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Posted 25 February 2009 - 10:11 PM
anticipating a breakout? I got burned a couple times, a couple weeks ago... so i'm sitting it out for now... maybe a short setup coming at 27.35ish
some have commented on the gold/oil ratio and something has got to give, my guess is that given the dollar's strength gold will dip and oil will probably dip from the strenghtening dollar.
“be right and sit tight”
#5
tommyt
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Posted 25 February 2009 - 10:40 PM
i've got some oil longs...its starting to act a little better, not great, not good...but improving.
#6
inamosa
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Posted 25 February 2009 - 10:48 PM
Long USL since yesterday
Willing to hold until the oil-to-gold ratio hits 7%+ (currently 4%)
"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
#7
cycletimer
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Posted 25 February 2009 - 10:53 PM
Starting to get bullish on oil and/or thinking we are about to bottom? Why not establish a bullish position and get paid FAT monthly dividends while you wait?! I am long SBR for that reason. Pays monthly distributions and is a great proxy for crude oil.
#8
TheArchitect
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Posted 25 February 2009 - 11:05 PM
i dunno... here's the LT chart i keep.
#9
hedgehawk
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Posted 25 February 2009 - 11:14 PM
I am looking for 1 to 1.5 pnt gap up to 43.50 to 44 zone into the NYMEX open tomorrow morning then it should get sold. As long as ES futures do not tank tonight.
#10
hedgehawk
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Posted 25 February 2009 - 11:15 PM
I am looking for one more push higher, 1 to 1.5 pnt gap up to 43.50 to 44 zone into the NYMEX open tomorrow morning then it should get sold. Need to get just a little more overbought. As long as ES futures do not tank tonight.
