Crude was weak overnight. And looking at the USO ETF I think you can see that last week’s pop on the Russia news was not only short-lived, but now in danger of being a bonafide bull trap.
As a result, I am looking at the ultra-short crude ETF’s here, namely DTO SCO.
This thesis would carry more weight if the USO ETF cracks back below $36 today.
Which stocks are at the top of your watchlists this morning?
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Chess- Looks like IBB has had nice reversal patterns on the Daily (looking at yesterdays action). Seeing good support around 21ma. BB bands are coiling. You still see a potential short?
Only below $259
Thanks Chess.