Thursday, December 6, 2007

Alert: USO OIL

When a stock hovers just underneath support as USO and OIL are right now they usually move away fast and to the downside (Link 1). It looks like these are both going to break,but don't guess trade the break. I will short another 1/4 position of USO @ 67.25 if it gets hit.

Link 1:http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=USo&sid=0&o_symb=USo&freq=1&time=8

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