SPX north

the 800 area test will again likely come in middle or end of Jan. I just wonder if we hold that area. Probably but one day at a time. Still long Uso Got too cute on slv like I did not try to on USO and of course that one was the low 10.04 and USO was not lol. I am looking for 12.01 -12.25 for a high on Silver very soon. Long it is on SPX until 936-941. As long as 856 holds. Good trades ya'll Z

test, trying to upload chart..
started building a public list.
liberatorium @ stockcharts

Lib, The viewers prefer more intraday charts on public list.

the 800 area test will again likely come in middle or end of Jan. I just wonder if we hold that area. Probably but one day at a time.

Still long Uso

Got too cute on slv like I did not try to on USO and of course that one was the low 10.04 and USO was not lol. I am looking for 12.01 -12.25 for a high on Silver very soon.

Long it is on SPX until 936-941. As long as 856 holds.


Good trades ya'll
Z

long SSO 24.50 just now / stop SPX 856 for now

Z

the 800 area test will again likely come in middle or end of Jan. I just wonder if we hold that area. Probably but one day at a time.

Still long Uso

Got too cute on slv like I did not try to on USO and of course that one was the low 10.04 and USO was not lol. I am looking for 12.01 -12.25 for a high on Silver very soon.

Long it is on SPX until 936-941. As long as 856 holds.


Good trades ya'll
Z

long SSO 24.50 just now / stop SPX 856 for now

Z

bought the other 50% 24.3 so full position 24.4 same stop 856 spx

Z

Where's your stop on the USO? IT

Where's your stop on the USO?

IT

I like oil to get close to the 50 day or touch it. This is an IT trade I am not too worried about owning it for a while if I have to and it represents 15% of my total trading capital. So my belief still stands that we see $49 before we see $25. I am an owner of oil for LT at these prices IT. There are things I would not own like the SPX but oil silver/gold and food at what I believe to be deals for the LT I do not mind owning.

Z

Where's your stop on the USO?

IT

I like oil to get close to the 50 day or touch it. This is an IT trade I am not too worried about owning it for a while if I have to and it represents 15% of my total trading capital. So my belief still stands that we see $49 before we see $25. I am an owner of oil for LT at these prices IT. There are things I would not own like the SPX but oil silver/gold and food at what I believe to be deals for the LT I do not mind owning.

Z

Let me add if we see $30 oil. I will add 5% and another 5% at $25 should we get there. We just saw a fib decline of 76.4% from high on oil I would think we have a decent bounce from that 35 level at least to the 50 day. Lets see what happens.

Z

OK, what bothers me a little in terms of the USO is the idea that they hold these oil futures contracts, which as you know are currently trading in contango. So a possible problem is that these carrying charges create pressure on the USO, especially if we trade sideways in a base building type of action. On the other hand, I suppose it's equally possible that a rally in crude oil could be muted in the USO because of the high carrying charges. Any thoughts about this? IT

OK, what bothers me a little in terms of the USO is the idea that they hold these oil futures contracts, which as you know are currently trading in contango. So a possible problem is that these carrying charges create pressure on the USO, especially if we trade sideways in a base building type of action. On the other hand, I suppose it's equally possible that a rally in crude oil could be muted in the USO because of the high carrying charges. Any thoughts about this?

IT

IT the more I hear contango the more I want to add to my position. It is all over the the news.

Z