Alert: crude at support?
Let’s add UCO …
In this week’s main article, to be released momentarily, I hash out my expectations for crude oil. All things considered, I think we may be looking at a decent near-term buying opportunity right now … to get long crude oil … as recent downside has cleared through key levels.
Let’s add UCO (ProShares Ultra DJ-AIG Crude Oil) at the market.
UCO (Last Price: $40.70)
Buy shares of ProShares Ultra DJ-AIG Crude Oil, symbol UCO, at the market. Then place an order to SELL ALL your shares of ProShares Ultra DJ-AIG Crude Oil, symbol UCO, at $37.59, STOP. This order is good till cancelled.
[Please note this is a 2x-leveraged fund which means it will move roughly twice as fast as the underlying price of the DJ-AIG crude fund.]