Bullish on Crude Oil

Quote from YIELDSAFE:

I believe that crude oil is due for a rebound rally to at least $55 per barrel from its close of 51.21 on 1/16/07. I believe this rally will occur within the next 8 weeks...
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Good job! :cool:



<img src="http://charts.marketcenter.com/ifs/alaronifs?cont=CL+H7&period=D&size=575x300&bartype=BAR&bardensity=LOW&headerbackground=0,89,179&headerforeground=255,255,255&headerdatacolor=255,255,255&studyheaderbackground=0,89,179&random=5423"/>
 
Quote from YIELDSAFE:

I believe that crude oil is due for a rebound rally to at least $55 per barrel from its close of 51.21 on 1/16/07. I believe this rally will occur within the next 8 weeks. The perfect storm of extreme negative sentiment and depressed valuation is in place and ready to uncoil. Correspondingly, I have entered a long position in USO at 43.93 on 1/17/07.

Entry: 43.93
Stoploss: 39.53
Time Stop: 8 weeks (maximum holding period)
Exit: Pending system signal
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As I forecasted above on 1/17/07, Crude Oil would rally to at least $55 per barrel from its close of 51.21 on 1/16/07
(within 8 weeks).

Today on 2/9/07, Crude Oil closed at 59.89.

My Bullish Call on Crude Oil on 1/17/07 occurred one day before Crude Oil bottomed on 1/18/07.

Update on USO Long Position
Entry Price: 43.93 (1/17/07)
Current Price: 49.99 (2/9/07)
Profit: 13.79%

Exit: Pending system signal
www.yieldsafe.com
 
Quote from YIELDSAFE:

I believe that crude oil is due for a rebound rally to at least $55 per barrel from its close of 51.21 on 1/16/07. I believe this rally will occur within the next 8 weeks. The perfect storm of extreme negative sentiment and depressed valuation is in place and ready to uncoil. Correspondingly, I have entered a long position in USO at 43.93 on 1/17/07.

Entry: 43.93
Stoploss: 39.53
Time Stop: 8 weeks (maximum holding period)
Exit: Pending system signal
More...
I have exited the long USO position today, 3/2/07, at 51.40 from an initial entry of 43.93 on 1/17/07.

The profit is 17.0% in 6 weeks.

Since my initial entry on 1/17/07 (one day before Crude Oil bottomed on 1/18/07), Crude Oil advanced from a close of 50.48 on 1/18/07 to 61.64 on 3/2/07.

USO Trade Details

Entry (1/17/07): 43.93
Exit (3/2/07): 51.40
Profit: 17.0%

www.yieldsafe.com
 
Excellent call. I'm thinking about exiting USO also ..my cost of 43.72. Still thinking we may see $70 crude though.
Rationale for your sell ? Thx.
 
Quote from aspenboy:

Excellent call. I'm thinking about exiting USO also ..my cost of 43.72. Still thinking we may see $70 crude though.
Rationale for your sell ? Thx.
More...
The rationale for my sell is to follow the exit rules of my system on Crude Oil. Crude Oil may have more upside but I believe the easy money has been made in this rally.

www.yieldsafe.com
 
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