The option trade in USO that I advised ahead of last week’s rally in crude paid off at as much as 5-to-1, even for subscribers who got hosed initially by paying the 0.49 I’d advised for a vertical call spread. This demonstrates yet again how forgiving ”mechanical’ entries are. Let’s stick with the same bullish rABC pattern to signal any further opportunities as Feb Crude ascends to as high as D=87.43 in the weeks ahead. That could mean initiating another ‘mechanical’ buy at the green line (x=74.59), but it will depend on how things play out as the new week gets rolling.
CLG23 – Feb Crude (Last:79.86)