A Sure Thing:USO

It's a sure thing that the US dollar is going to fall below 70 on the USDX and to even much lower levels. If you look at the chart of the United States Oil Fund USO(Link 1) you can see that this last move began on September 18 after the FED surprised the markets with a 50 basis point cut. The chart which really tells the tale of the USO however is the weekly chart(Link 2). Pay attention to the last two bars. The next to the last bar indicates that the USO ended the week higher that it started. Where as the very last bar indicates that it's ending the (this)week lower that it started. A classical topping action. This together with the weekly stochastic rolling over from above 90 indicates that it can go down a ways without much in the way of support. About to 80 or so I'd say. The FED will of course continue to criminally manipulate the markets. Any mutterings about an interest rate cut will send gold and silver rocketing toward their recent highs. However the price of oil is dependent on among other things demand for the overall economy which is slowing where as gold and silver are not(at this time)being a hedge against the devaluing dollar. Make no mistake the precious metals deserve a good pull back as well, but shorting them is I'd say a little dangerous. So we will concentrate on the USO. Right now the set up is all most perfect momentum wise. The stochastic in both the weekly and 15 min. charts are rolling over. The only negative is that the stochastic on the daily chart is turning up from under 20. I'm not concerned since the weekly chart trumps the daily chart. The 15 min. chart will be rolling over in about 15 minutes from now so you can wait until then if you want. I will put up the alert soon.

Link 1:http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=uso&sid=0&o_symb=uso
Link 2:http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=uso