Posted by dodgerdog on 9th of May 2008 at 09:12 am
DUG looks like it has a chance to form a divergent low on the
daily charts on this pullback - waiting for a reversal for a
signal.
Oil moves accelerating recently which is indicative of a
parabolic blowoff - don't like to hear that one cannot borrow USO
tells me a squeeze is possible.
Overall, I agree with your viewpoint.
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DUG,USO
Posted by arl3080 on 9th of May 2008 at 08:50 am
Looking to SHORT OIL---USO on the OPEN OR BUY DUG
TARGET for USO around 93-94
TARGET FOR DUG AROUND 34.50-35.50
BEEN FOLLOWING DUG AND USO
THESE I PLAN ON KEEPING--not daytrades
DUG
Posted by dodgerdog on 9th of May 2008 at 09:12 am
DUG looks like it has a chance to form a divergent low on the daily charts on this pullback - waiting for a reversal for a signal.
Oil moves accelerating recently which is indicative of a parabolic blowoff - don't like to hear that one cannot borrow USO tells me a squeeze is possible.
Overall, I agree with your viewpoint.