STOCKS SLIDE AS RISING DOLLAR HITS OIL PRICES – RSI PICKS OIL & GAS October 26, 2009
Posted by Marlowe Cassetti in DIG, EZA, UCO.trackback
Today’s selloff hurt our commodity positions. I hope you remembered not to pull those corks off the champagne bottles. Anyway, today RSI picked another ultra energy fund, leveraged to get twice the bang for the buck. So here it is:
- Buy 240 shares of Ultra Oil & Gas ProShares (DIG) at tomorrow’s open. Place a stop loss $4.18 below the filled price and a profit target $6.27 above the filled price.
This pick of an ultra energy ETF is quite volatile at 12%. However, with the risk of volatility comes the prospect of reward, in this case $6.27/share profit. This fund is not unlike Friday’s pick of UCO, which I chose not to purchase today. Likewise I choose not to buy DIG. See chart below:
Another bit of news, today’s dollar spike cause my position in iShares MSCI South Africa Index (EZA) to trip a trailing stop for a small, but nice profit.
I’ll catch you tomorrow.
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