The CME is up more than 10 points this morning on heavy volume. This looks like an upside breakout. Also, the Intercontinental Exchange (ICE) looks to have broken out to the upside today, also on heavy volume. Fortunately we bought back our short calls the other day, leaving us with a long stock position in the CME.
Oil is driving us crazy right now. It broke to a new high yesterday, but volume on the futures was lower than the prior day. That is not what you want to see. Also, while the Oil Services ETF (OIH) is trading at a recent high, the U. S. Oil ETF (USO) is not. For the time being we are sitting on the fence regarding oil.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment