Oil’s sloppy trading of the last few days has not been good for your second attempt to own the bearish ETF, ProShares UltraShort Bloomberg Crude Oil, symbol SCO.
Yesterday you were stopped out when the ETF slumped to tag my recommended good-till-cancelled protective sell stop at $68.98.
It seems I underestimated the current sideways trading affair in oil.
Nevertheless, my models remain bearish on oil. But wait for my next signals before acting.
Hold all other positions and related protective stops.
Best wishes and stay tuned …