Wall Street Buddha

Short USO or HAL July 7, 2009

I don’t want to write……..I’m going short USO in the morning. You can go short HAL too if you want. You can see that the uptrend was broken. Then the price action went flat. Now we have a break at the 35.66 (red line).

As for HAL same idea, Price level break. I’m a little iffy about taking these trades, because the volume seems less than robust. Also……I think the market in general should be flat till Aug/Sept.

You can see that HAL and USO can’t make it above the 200 ema levels which would be considered bullish territory.

I’m going to take the trade anyway. Going Short USO. If you want more volatility play HAL. But you would just be a tad late.

I don’t like to set targets but I’m seeing $30 for USO. $15 for HAL.

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