USO
As you know, I expect oil to hit $150 a barrel but I expect that to be a highly contested trade. Soon the markets will be swamped with the news of internationally coordinated release of oil from strategic reserves. I expect that to drive oil prices lower. In that downward move, we will start buying with all of our favorite instruments, including our new ones. For now, oil is headed very soon to a heavy resistance point. I want to stand aside as it deals with the news of the numbers.
We have some small profits in our ETF trade so I want to take those profits to cover Easter dinner. You should have 3 positions with an average price of around $77.50 and we’re getting out around $81.16 which is a profit of $5,215.50. As far as I’m concerned, that’s chump change. More important will be our next trade which will be in Crude Oil. Our CFDs are good to go.