11/16 – ETF Trading – USO, UCO

Good morning. On Friday, USO moved lower and you took your initial position in the trade. For those playing the leveraged trade, you took the initial position in UCO. We did not enter the trade on EWZ, as it moved higher on Friday.

Should USO/UCO move lower today, take the second position in the trade. Otherwise, our exit signals are triggered when the etf price is greater than it’s MA(5), or – for a potentially larger gain – when the RSI(2) is greater than 70. All trades are at the market close. Please trade responsibly!

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”). USO issues units that may be purchased and sold on the NYSE Arca.

ProShares Ultra DJ-UBS Crude Oil – UCO – 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.

Join me everyday to follow these etf trading signals. All of the signals and strategies I use for etf trading are found 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. Save $10, too.

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