Black Gold

Oil inventory data will be released tomorrow morning, as it is every Wednesday. Normally, I could careless about the event, however oil needs to be monitored here.

You have three things working here: a possible uptick in demand as the economy starts to show signs of life, Memorial Day Weekend/Summer Driving season, and a beautiful bullish chart.

Let’s take a look at [[USO]], the ETF that tracks oil, what do you see?  I see a possible inverse head & shoulders (bullish), a possible cup & handle (bullish), and all short term moving averages below the stock price (pretty damn bullish to me).

With all that said, I will be looking to buy a little more [[DXO]] here. DXO is the double long crude oil ETF, and it’s technical setup is just about one of the best you will find.

This is what we are looking for:

Everything about this chart screams buy, everything from the way the moving averages line up, down to the beautiful doji that printed today. If we see oil prices rise after the inventory report, we could see a significant rally in Black Gold.

I will be screening stocks tonight in the oil & gas sector, and will post my results in The PPT.

[[DXO]] is your bone.

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Get your chips ready: [[CTIC]]

“better odds than powerball!” -jSawyer (PPT member)

Is the chart below right? My 10yr chart shows the high @ $30,900?

Disclaimer: Long CTIC

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Sorry for being absent on this side of iBC, but quite frankly I’m having too much fun in The PPT. We are absolutely killing it in there.

If you caught my post last night on The PPT blog, you should be heavy into some profits right about now. Also, CA’s picks in the conference room have been golden.

I’ve been putting my cash to work all morning buying all shorts of shit, some include: THQI, CSIQ, LEA, GOOG, CTIC, OXPS, & a few others.

Days like today will pay for your subscription alone, plus it’s a fun place to hang out. Stop wasting time, get in The PPT.

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Presented by the gentlemen of The PPT

AHD, APL, ARSD, ATVI, BEE, BKUNA, CAP, CMZ, CROX, CSCX, CSIQ, CTIC, DXO, FEED, FNM, GERN, GSIG, LGCY, LYY, MTSN, NG, NGLS, OPLK, OXPS, PCX, PKI, QELP, TAN, TC, THQI, TLM, ZQK, AIG

Note: The stocks highlighted above are to be traded on strength.

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What an impressive day, the futures bounced @ 875 early this morning, and made a steady climb higher all day. I myself took part in a few longs, buying up [[SONS]] which closed above it’s 200 day, and [[OXPS]] which has all the ingredients for a BTFO.

I was trigger shy on [[SIGM]], and watched it climb all day without me, the setup was too good to pass up, but somehow I passed it up.

Technically, this is exactly what we want to see, a pullback down to support (875), followed by an explosive move higher. I will be searching for a more long setups tonight, I’ll post my findings later tonight.

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Here’s a few more long setups:

[[SIGM]]

[[TLM]]

[[PCX]]

[[OXPS]]

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