10/19 – ETF Trading – USO, SCO

USO closed higher yesterday, enough to trigger taking a third and final short position.

The higher closing price for USO also triggered a third and final long position for SCO. We’ll now wait for our etf exit signals.

Our exit signal is triggered when the RSI 2 for USO is less than 30. Exit the leveraged trade using this signal as well.

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

Learn more about short 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.

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Short selling in a weak market can generate big profits and should be a part of every trader’s arsenal of tools. The New Sell and Sell Short contains numerous examples of short selling stocks from the 2008-2009 bear market, demonstrating very clearly why traders do themselves a disservice by only focusing on the long side.

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