Alert: Crude Oil Cracks.
Let’s grab gains on DTO now …
Last Friday I recommended taking a position in DTO to play for falling oil prices. That’s exactly what we got this week. Because DTO is a double-leveraged ETN and because the drop in crude came so quickly, I think we should grab gains here and maybe look to reenter on a bounce. Order details below …
DTO(Last Price: $53.38)
SELL ALL shares of PowerShares Crude Oil Double Short ETN, symbol DTO, at the market. Then be sure to CANCEL your an order to SELL ALL your shares of PowerShares Crude Oil Double Short ETN, symbol DTO, at $43.85, STOP.
Depending on exactly where you entered and where you exit this position, I show an estimated gain of around 10%. Nice!