10/13 – ETF Trading – USO, SCO

A repeat of the previous day, USO closed lower yesterday. As such, we did not take a second short position in the etf trade. And using the signals for USO to trade SCO, we did not take a second trade in SCO. Updated charts are posted below.

We may scale in to the trade with up to 3 trading positions. Take a second trading position should USO close higher today than our entry price – the same for SCO, but, of course, closing lower.

Our exit signals for USO are triggered when the etf price is less than it’s 5 day moving average, or – for a potentially larger gain – when the RSI(2) is less than 30. We’re using the later signal. Exit the trade in SCO following the signals for USO.

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

Join me every day as I offer new etf trading ideas for you to follow.

Updated charts:

Disclaimer:The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.

—–

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

—–

• 11/16 - ETF Trading - No Trades Today More buying pushed the broader market higher yesterday, yet SPY remains in a neutral trading area - see the RSI 2. And since the broader market is below its 200 day moving average, another day or two of buying should trigger our short etf trading signals. However, with SPY moving......
• 09/27 - ETF Trading - USO, SCO Oil closed higher on Friday, generating an etf shorting opportunity. Consider taking a short position in USO should the etf close higher today. If you're unable to short USO, consider taking the inverse etf - SCO. However, follow the etf trading signals for USO. SCO is a double inverse etf......
• 06/22 - ETF Trading - USO, SCO, FXI, FXP We have a full short trading position in USO and/or FXI. If you're trading the inverse etfs, you have a full trading position in SCO and/or FXP. FXI closed higher yesterday, while USO closed slightly lower. So now we're just waiting for our etf exit signals to trigger. Our exit......

• Revolutionary New Antiques Site Aggregates the World's Stock of Antique Silver, Bringing Buyers and Sellers Together There is a new player in the international silver trade. My Family Silver is a revolutionary new website that offers a unique way to buy and sell antique silver. For the first time, myfamilysilver.com enables dealers and auctioneers worldwide to list silver for sale on one exclusive and fully independent......
• Do You Know Your Congressman's Position on the STOCK Act? Want a surefire way to piss off your Congress persons? First, ask if he/she had any short positions during the market crash. Congress had multiple short sellers in their midst, and since Congressional leaders have little to nothing forcing them to disclose their personal investments, identifying the hypocrites would be......
• Advantages and Disadvantages of Investing in Gold Bullion vs. Gold Stocks vs. Gold ETFs Most analysts agree that a well-balanced portfolio should allot a certain amount, somewhere between 5-15%, to gold, depending on your outlook for the economy in the near, mid, and long-term future.  One decision you need to make is how to allocate this portion amongst the several options for owning gold. ......