Archive for July, 2009

ETF Trading – USO, SCO

There are no new etf trading opportunities to suggest today. We’re patiently waiting for the stock market to change course and provide us with new stock trading opportunities.

We’re also patiently waiting to take our gains on USO and/or SCO. Take your gains when the closing price of USO closes below it’s 5 day moving average. For SCO, you’ll take your gains when the stock price closes above it’s 5 day moving average.

Updated stock charts are posted:

These trades are based on the strategies found in the book by Larry Connors: High Probability ETF Trading.

• 06/14 - ETF Trading - USO, SCO, FXI, FXP USO closed lower on Friday. As such, you did not take a second short trading position in USO, nor a second long trading position in SCO. Take second trading positions only if the closing price of USO moves higher than our entry price. FXI closed higher on Friday and you......
• 02/15 - ETF Trading - USO, UCO We're into a full trading position for USO (and/or UCO). We've scaled into three trading positions over the past several trading days. USO closed lower yesterday and is over-sold (and due for a correction), having closed lower in 7 of the last 8 trading sessions. This is confirmed by the......
• 01/24 - ETF Trading - IWM, UWM Good morning. IWM closed lower on Friday and you took your second position in the etf trade. Likewise for the leveraged etf trade in UWM. Should IWM close lower today, take your third and final position in the trade. Otherwise, our etf exit signals are triggered when the etf price......

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ETF Trading – USO, SCO

Same ol’ story.  Follow my notes from yesterday.  I’ve posted updated charts.  Take your gains at the close of the stock market trading day should USO move below it’s MA(5) or should SCO move above it’s MA(5).

Otherwise, we’re just waiting on a market pull-back so that we can take some long etf stock trading positions .

• 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......
• 06/03 - ETF Trading - USO, SCO Markets rebounded yesterday and so did oil. We're still waiting for our etf exit signals to trigger for our short trade in USO. The inverse, leveraged etf trade is in SCO. Our exit signals are triggered when the closing price for USO is lower than it's MA(5), or - for......
• 10/07 - ETF Trading - USO, SCO USO closed modestly higher yesterday. We have a full, short trading position and we're patiently waiting for sell-off to trigger our exit signals. Our exit signals are triggered when the closing price for USO is lower than it's MA(5), or - for a potentially larger gain - when the RSI(2)......

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ETF Trading – USO, SCO, DIA, QQQQ

Oil continued to move higher yesterday and so did USO . Perhaps you took an initial short position. Short a second position at the end of the day should it close higher again. Otherwise, take your gains should the closing price move below it’s 5 day moving average.

As I mentioned yesterday, you can also short USO by taking a long position in SCO. SCO seeks to replicate, net of expenses, twice the inverse daily performance of the Dow Jones AIG Crude Oil Sub-Index.

I’ve posted the charts for DIA and QQQQ. Boy, this market sure looks overbought! Notice the high RSI(2) readings.

These trades are based on the strategies found in the book by Larry Connors: High Probability ETF Trading.

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• 03/11 - ETF Trading - XLE, DIG So much chaos in the world - social unrest in the middle east, and now earthquakes and tsunamis in Japan. I hope you're in a safe place today. XLE closed lower yesterday with the big sell-off in stocks. Accordingly, you took your second position in our etf trade. Likewise for......
• 11/18 - ETF Trading - No Trades Today - Scale-in Strategies Good morning. My stock screener is telling me that we have no etf trading opportunities today. We'll wait for a stock market pull-back to trigger some new entry signals. We had a great one-day trade on USO and/or UCO - see yesterday's post. We took only one position in the......
• ETF Trading - A Look at QQQQ No stock trades here today.  We're waiting on a pullback in oil and the effect on USO and SCO.  See my post from yesterday. Just when you think a stock looks overbought, it goes higher still.  QQQQ defies logic.  And who says markets aren't a reflection of emotion?! Trades are......

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