AVERAGE EXIT PRICE FOR $SSO IS $34.12
This was intended to be a very short term trade and market gave us opportunity to exit with a decent profit.
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This was intended to be a very short term trade and market gave us opportunity to exit with a decent profit.
We are short $SSO from $34.70. Take partial profits as it goes lower and keep tight trailing stops on the rest.
As a very short term trade, consider short sell on oil futures. Consider start scaling in CLZ9 right here at $70.92. Those not comfortable with futures may consider short sell on $UCO right here at $11.32. Keep tight stops.
Impetus for the start of today’s rally was bigger than expected draw down in gasoline inventories. Our analysis shows that the last point and a half is short covering.
Our fund flow analysis is dictating a very short term trade on US equities on quarter end window dressing and short squeeze spike. Keep a tight stop.