Tag Archives: uso

Matthew Bradbard submits: Yes folks, believe it or not Q1 is over this week. Crude is convincingly higher, closing above the 9 and 20 day MA for the first time in 8 days. We are abandoning all short strategies, as we said we would on a close above $82 in May. That is not to say we are getting long; we have advised clients to move to the sidelines. Buying was rejected in natural gas today with prices, as of this post, off their lows but 10 cents off their highs. We are almost at our threshold for pain on longs, so we most likely are close to turning around. New entries are advised to look at 50 cent call spreads in June; i.e.$4.00/4.50 or $4.25/4.75. Indices were all higher on the day but have yet to get above last Thursday’s highs. Whether we move higher or lower from here will likely be up to Friday’s NFP number. Complete Story