Comment on USO Trade:
“reasoning on US Oil”
These swing trades are mean reversion trades that are made when the market gets over stretched to one side. It in no way reflects any fundamental opinion regarding oil. These trades are typically 1 to 7 days depending on the bounce if any the trade gets.
Also these are not for the conservative trader. Often times you have to weather a 1 or 2 % or more down swing. But Historically these are very good setups.
Been awhile since I have put on any swing trades but a good setup this morning
I bought 1440 shares of USO @ 34.80