02/08 – ETF Trading – USO, UCO

Put USO on your watch list today; USO closed lower yesterday, generating an etf trading opportunity. Consider taking the first trading position in USO should the etf close lower today.

For the leveraged trade, consider UCO. However, follow the etf trading signals for USO. UCO is a “double” etf – please trade carefully.

USO – The United States Oil Fund, LP (“USO”) is a domestic exchange traded security designed to track the movements of light, sweet crude oil (“West Texas Intermediate”).

UCO – ProShares Ultra DJ-UBS Crude Oil seeks daily investment results, before fees and expenses, that correspond to twice (200%) the daily performance of the Dow Jones—UBS Crude Oil Sub-Index SM.

We may take up to 3 trading positions over the next couple of days. Our first position is 1/6 of our total trading amount. Our second position is 1/3 of our total trading amount. Our third trading position is 1/2 of our total trading amount. You could also position your trades in a 20-30-50 ratio.

All trades are at the market close. Please trade responsibly.

Assuming we get into the trade, our exit signals are triggered when the closing price for USO is higher than it’s MA(5), or – for a potentially larger gain – when the RSI(2) is greater than 70.

Learn why oil is now a good etf trading opportunity in the book by Larry Connors: High Probability ETF Trading. His etf trading strategies have only a few rules and you’ll be able to back-test and apply the strategies to the next trading day. With easy to follow trading strategies, clear explanations, and years of tested results, there is no better place to start finding new trading edges than in High Probability ETF Trading. Get your copy today and be ready for the next trading session.

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Learn 16 Strategies to Improve Your Trading…

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