I know the gold and oil play is over and has been for quite a few weeks maybe even months now, but I think Oil on the short term basis is over sold, im still waiting for oil to break $100, I think when it does it should settle around 70-80 a barrel. On the other hand I think in the short term oil is quite oversold according. I see a bounce back to the 105-110 range. I would recommend DXO between $13.50 and $14.00, todays close was $13.91. As for gold im getting quite bullish on it too, a couple of reasons, I see a pull back in the dollar that has gone up a little to far to fast and I see a possible rate cut or more talk about a rate cut out of the federal reserve that will push gold higher, most likely back to $800-850 range sometime over the next few weeks. I would recommend DGP between $13.50 and $14.00, todays close was $14.08. Price targets: 1-3 months DXO $15-$16 10-15% return DGP $17-18 20-30% return These 2 I mentioned are Ultra bullish that move 2X what oil or gold do. If you want to buy oil or gold with a regular ETF I would recommend GLD, IAU, OIL, or USO.
Great timing! DGP closed over $15 on Friday and gold futures rallying big time.. Gonna open over $16 at this rate... I picked up DGP around 14.5 but sold at the close... Kicking myself for doing so.
DGP already past my price target, currently trading at $18.70 up from $14.08 a share last week. Almost a 20% return in a week. DXO still down
DXO has touched my Target PRICE OF $15, oil was oversold and has touched my prediction price of $105+ DXO trading at $15.11 DGP trading at $20.72 Both have achieved SIGNIFICANT gains from my calls less than 2 weeks ago. Hope you guys bought.
Very nice calls mate.. Whats your current next trade for oil in the short - midterm (tomorrow and for the rest of this week)?? I wnat to get a short in now soo much for the pullback, but the current dollar weaking is making me uncomfortable
Very timely thread for me. I discovered DXO/DTO about 1 1/2 months ago, while poking around Telechart, looking for a way to get in on the nice trendiness in crude. So far, it's paid off nicely, bought DXO at 12.66. From here I'll trail a stop at critical levels, and ride it for whatever I can. So what's the thoughts about the X contract? Is it being dragged up by the V, or is it a real bounce due to the changing economic conditions/dollar devaluation? Also, at times I see CNBC (or maybe Bloomberg) displaying crude as CL.1.... is that a blend of all the contracts, or something else?
That's the front month, Sir. October expired today and had 60,000 open interest heading into the last session, providing quite a squeeze. Nov. now front month.