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.
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Good morning, Seth.
I appreciate you turning me on to Stockfetcher. I noticed something yesterday that is unrelated to ETFs. Looking at the 13 x 50 Moving Average page – I noticed that after yesterday’s session that about 24 stocks had bullish cross overs and there were no bearish cross overs.
Looks like today, there may be 20 or so more bullish cross overs and either side of 5 bearish cross overs. I don’t know if such disparities mean a lot for the general market, but maybe something to keep in mind. I figure on the way down last summer and into the fall – it was the opposite. Probably days of 30 or so bearish cross overs and few if any bullish cross overs.
Food for thought.
RBB
It’s a great tool! I’m sure all the bullish crossovers you refer to suggest that this market, in general, may go higher – but I might wait for a pullback!