TAKE PROFITS AND EXIT OIL TRADE $USO $SCO $UWTI $DWTI $UCO $OIH $XOP $XLP $CL_F
This post was just published on ZYX Short Change Alert. OIL ETF USO is short from $11.31. As of this writing it is trading at $10.87. The EIA data was extremely bullish. This contradicts API data mentioned in the Morning Capsule. According to EIA, Oil Inventories came at -2.5 million barrels vs. -500K consensus Gasoline Inventories came at -2.7 million barrels vs. -1.7 million barrels consensus. Distillate Inventories came at +1.9 million barrels vs. +1.7 million barrels consensus. There is too much risk in holding a short position at this time. Consider taking profits and exiting the entire remaining position in the