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.  Eventhough the RSI(2) is high, do not enter any more short positions, as the etf has moved above it’s MA(200).

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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