Just a quick note here: Well done on selling your shares in SCO and/or the United States Oil Fund January 2016 put options, strike price $14.00 (USO160115P00014000)!
Depending upon when you entered – and exited yesterday – your gains amounted to as much as 29.4 percent on SCO and as much as a whopping 100.7 percent on the put option.
So what next? Right now, you should hold all open positions and related stops. There is not much new to report on in terms of market action. And I don’t think we will see much important action until next week’s Fed meeting on the 15th/16th.
But as I pointed out in yesterday’s issue, the artificial intelligence, neural net models I use, along with other technical indicators, strongly suggest that nearly all markets will experience some of the wildest action of the entire year.
Most markets will gyrate wildly, but the major trends will not change. Some markets may reach critical pivot points, which my models will quickly digest and tell us what moves to make next.
So for now, sit tight. Enjoy the recent gains, and get ready for a lot more action coming your way.
Lastly, be sure you carve out the time to attend the members-only webinar on the 15th. I’ll have a lot of ground to cover with you and will address, live, your most recent questions.
Best wishes, as always …
Larry
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