Starting a new trade around position short selling USO scaling in right here at $11.28, up to $11.47, with a stop on one-half of the position in the zone of $11.68 to $11.88 and mental stop on the other half in the zone of $11.55 to $11.63. Adjust position size based on your own risk preference. For tracking purposes, the position size is 40% of the full core position size.
This is a very, very short-term position.
Please see Trade Management Guidelines to learn about trade around positions.
Oil is running up on headline bullish inventory number.