Good job! <img src="http://charts.marketcenter.com/ifs/alaronifs?cont=CL+H7&period=D&size=575x300&bartype=BAR&bardensity=LOW&headerbackground=0,89,179&headerforeground=255,255,255&headerdatacolor=255,255,255&studyheaderbackground=0,89,179&random=5423"/>
As I forecasted above on 1/17/07, Crude Oil would rally to at least $55 per barrel from its close of 51.21 on 1/16/07 (within 8 weeks). Today on 2/9/07, Crude Oil closed at 59.89. My Bullish Call on Crude Oil on 1/17/07 occurred one day before Crude Oil bottomed on 1/18/07. Update on USO Long Position Entry Price: 43.93 (1/17/07) Current Price: 49.99 (2/9/07) Profit: 13.79% Exit: Pending system signal www.yieldsafe.com
I have exited the long USO position today, 3/2/07, at 51.40 from an initial entry of 43.93 on 1/17/07. The profit is 17.0% in 6 weeks. Since my initial entry on 1/17/07 (one day before Crude Oil bottomed on 1/18/07), Crude Oil advanced from a close of 50.48 on 1/18/07 to 61.64 on 3/2/07. USO Trade Details Entry (1/17/07): 43.93 Exit (3/2/07): 51.40 Profit: 17.0% www.yieldsafe.com
Excellent call. I'm thinking about exiting USO also ..my cost of 43.72. Still thinking we may see $70 crude though. Rationale for your sell ? Thx.
The rationale for my sell is to follow the exit rules of my system on Crude Oil. Crude Oil may have more upside but I believe the easy money has been made in this rally. www.yieldsafe.com
crude has been unable to move fast beyond this trendline I posted Feb 13, 2007. We are still hanging aorund this area and my opinion is we are going down below $43 on USO and I am eventually looking for sub-40 on crude by the summer http://lauristonletter.blogspot.com/2007/02/stalking-energy-for-short.html