Trading Signals & Analysis

Trade Alert: Raise Stop on SCO

by Larry Edelson |

Crude oil is down another $0.47 this morning, trading at the $41.45 level, basis the September futures contract. Meanwhile, the inverse crude oil ETF, SCO – is jumping nicely.

Let’s go ahead and raise your protective sell stop following the instructions below:

Cancel and replace your good-till-cancelled protective sell stop for ProShares UltraShort Bloomberg Crude Oil, symbol SCO, at $84.54. NEW PRICE: $104.27, good till cancelled.

Best wishes,

Larry