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I hope everyone is having a great weekend. It was a good 2 days trading UCO despite ihub being down. Hope to see you all her next week.
What are your target for pps next week? It was nice to see that it didn't fall below the $4.60 support level or even actually touch it before the move back up. Just curious about your thoughts. TIA
TMM, Kam, LMS....et. al.hope you guys had a great day. It was strange that ihub was out all day until market closed. Have a great night Gents.
Got a good chunk this morning. Almost bailed today but holding to see what tomorrow brings.
Wow what a day.
Good morning Gents. Can we see a 6-8% WTI run up today?
Here is a reality based piece concerning rigs, shale and oil prices.
Goldman Is Wrong About Shale: Oil Price Spike By End 2017 Highly Likely $USO
http://www.seekingalpha.com/article/4030638
I think this support is very positive despite dollar uptick. I'd like to see the dollar cool off tomorrow and Friday.
I think we he'd up over night. I'm in UCO with a lot of 12/30 calls to boot. I still think we can be back to $53's UTI and $55 by Friday. Yes rigs will prob go up as well.
Back in UCO looking for that reversal starting tomorrow
Nice plays guys. I made a few quick flips of Dwt and UWT this morning. But otherwise just stayed on the side, ready to re enter UCO or UWT I think.
May be time to start dipping back into UCO.
Wow nice reversal.
Good morning Gents. Hope everyone has a great day here today.
I tend to mostly hang in a bit too long at times Longy, I get burned or sometimes for pushing or often don't exit with maximum gains. I did well yesterday and also the last few trades because some things are more clear to me after putting in some work. Let's see what tomorrow brings and I do agree the the fed meeting will have a marked affect on WTI. But I think it'll be a surprisingly positive effect. No rate hike, or even a marginal hike and dollar will pull back.
My call for tomorrow is a dip between $51.50-$50.75 area before a nice pop to $55 area late tomorrow-Friday. Most likely test $55 on Thursday. Then new levels and trading range.
Hahahaha yes I have the little one right now so no time for myself.
UCO bid $11.51 ask 11.52
Will do Kam. Thank you for the info
Seems that way but I can't get the # yet
Thanks Kam, it still a little complex for me. I won't attempt it until I get the full scope of what the potentials are and how to be in the best position. Right now just waiting for the he API numbers.
So the idea is to sell calls above your cost basis so that if you have to let them go then you still profit. Got it now I think. Then buy puts costing less than the covered calls so that the premium pays for the puts. That way as soon as you get a direction then you can close the contract?
Hahaha I don't necessarily think it's going that low I was just wondering if I had the technique down. I see your point about closing the contract before expiry. Have to keep that in mind for sure.
So Kam, if I own 3k shares of UCO and sell 300c 11 call and buy 300c 11.50p? Does that follow?
Great minds...
"PING!" That's a plan dropping. Quiet day here today just waiting on an entry.
I had a nice premarket trade today now waiting to renter UCO, I still feel it goes up after surprise draw ''tis week. Will look for a nice entry here.
Good morning Gents. Looks like we got a little rise in oil overnight, let's see if it holds today before API report. Have a great day everyone.
Thanks Kam, same to you. My buy order got fill quickly just want to see how the sell goes through. And how the price reacts.
Yes I'm watching both, but dipped in to get a true feel. Nothing too crazy but a little for the sakes of learning how it moves.
Still holding UCO because I'm back at work and need a slow and steady.
I got some UWT today @$27 holding for a quick flip in the pre tomorrow. I think we open up then a sell off until possible surprise draw in the report tomorrow.
Thank you Kam, the help goes a long way.
It's amazing morning. Booked some profits and still moving
Good morning Gents, please enjoy the day.
Yeah Kam it is looking like a great week.
It's extra nice when it opens like this. Would like to see your $55 tomorrow.