I’ve up’d my cash position this morning selling out of a few names, and now stand at about 70% cash heading into the FOMC. I’ve had a great run over the last few weeks, and do not care to give back gains with year end in sight. I did however want some oil, so I added UCO.
The banks are rallying here ahead of the FED, and the bears are just about dead. It certainly feels like we continue to melt up, but I’m content with playing it safe here.
[youtube:http://www.youtube.com/watch?v=z9s9Z0sEYCU 450 300]Short film directed and produced by @Moober, edited by RC.
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RC-
Can you recommend any links comparing the behaviors of UCO, USO and OIL? Am curious about the differences of how they respond. Tnx.
you mean something like this, or a little more in depth: http://yhoo.it/VCyvqs