08/06 – ETF Trading – USO, SCO

USO closed lower yesterday. As such, we did not take a second short position in the etf trade. And since we’re using the signals for USO to trade, we did not take a second trade in SCO. Updated charts are posted below.

Take a second short trading position should USO close higher than 36.91 – trade SCO on this signal for the long trade.

Otherwise, our exit signals for USO are triggered when the etf price is less than it’s MA(5), or – for a potentially larger gain – when the RSI(2) is less than 30. Trade SCO on the signals for USO.

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

All trades are based on the etf trading strategies in the book by Larry Connors: High Probability ETF Trading. His etf trading strategies have just a few simple rules and you’ll be able to back-test and apply the strategies to the next trading day. Get your copy today and be ready for the next trading session.

Updated charts:

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Can’t make a trade? Let Warren Buffett manage your portfolio – AlphaClone

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