Posts Tagged ‘USO’

• Consolidating In Thin Air
  Posted by Leigh Drogen on March 3rd, 2010 at 10:22 pm, Comments: 0

  The market is still overbought and a little testy here, breakout the past few days have been met will selling.  It’s time to take some profits from the recent run and hide out for a little while in safer names.  The Euro $EURUSD short squeeze is on, if you trade forex take advantage, the 50 [...]

• A Technical Cross Roads
  Posted by Leigh Drogen on December 15th, 2009 at 10:19 pm, Comments: 0

  I find it interesting how technical patterns often come to a point of resolution as major fundamental news is released.  This is true for assets across the board.  Tomorrow’s FOMC announcement once again comes as we are at a cross roads in several different assets.  Tomorrow’s announcement will kick off the next leg in several markets, [...]

• Stock Picker’s Delight
  Posted by Leigh Drogen on December 15th, 2009 at 12:52 am, Comments: 0

  The market has gone absolutely nowhere in over a month, oscillating around a rising 20 day moving average.  While the broader indices continue to churn, some excellent setups to both the long and short side have revealed themselves.  Instead instead of focusing on the direction of the overall market tonight, below are a bunch of the best [...]

• Late Night Comedians Do Finance…Kind Of
  Posted by Leigh Drogen on December 10th, 2009 at 1:45 am, Comments: 0

  I’m watching some late night television, I love John Stewart and Steven Colbert.  Frankly, John Stewart has more credibility than MSNBC, CNN, and Fox News combined.  Sadly, you’ll find more real news during this hour of television than you’ll find all day on cable news.   As a writer and performer Steven Colbert is far and away more [...]

• The Nothing Day
  Posted by Leigh Drogen on November 17th, 2009 at 6:22 pm, Comments: 0

  Today was a nothing day, anything that happened you should pretty much throw out the window and forget, no one was trading.  We are still trapped under the upper trend channel on the $SPY after breaking out of the bull flag put in last week.  Negative divergences are forming on the hourly chart which should [...]

• Why Are They Lying About the Dollar?
  Posted by Leigh Drogen on November 17th, 2009 at 12:16 am, Comments: 0

  Buy the dips, and sell the rips.  When this, the most hated equity rally in history is over we will look back, sigh, and just repeat, buy the dips and sell the rips.  I commented in an interview during the last dip that you had to continue putting your balls on the line during sell [...]

• Blood In the Streets
  Posted by Leigh Drogen on October 28th, 2009 at 7:27 pm, Comments: 0

  Check out the flow of charts on Chart.ly tonight.  Chart,ly is an excellent tool, if you know how to use it.  Taking a tip on a chart from someone without doing your homework first is just as bad as taking the word of that guy in your office who’s broker says to buy XYZ because [...]

• Leaders Falling, Laggards Churning
  Posted by Leigh Drogen on October 28th, 2009 at 11:05 am, Comments: 0

  A quick update on what I’m seeing this morning. The issues which have lagged in the last run up are not capitulating, they are holding major support levels here.  What we still have is selling in the stuff which had run up during the last push.  Materials are getting slaughtered here as they were the [...]

• Buy Your Winners: Postmarket Update
  Posted by Leigh Drogen on October 13th, 2009 at 5:55 pm, Comments: 0

  Much like when I stepped onto the ice last night, I came into the office this morning feeling like shit.  I hobbled all the way from the subway and just felt like crawling into a hole.  By the end of the day though the pain in my leg was no longer bothering me and my [...]

• Crude Realities
  Posted by Leigh Drogen on October 12th, 2009 at 2:19 pm, Comments: 0

  I’m long crude oil this morning via $USO at 37.82 and will add a second lot at 38.38. I want to take a few moments this afternoon to focus on the energy complex as a whole, as these are important levels. $USO broke through the upper 20 day donchian channel today giving me a buy [...]