Oil Working Out Well

After the IBM stinker I could use something that is working; one of those is the short I took against crude oil, as noted in NFTRH a couple weeks ago.  Commodities and crude oil had bounced to the areas I thought they would, if this was to be just a bounce.

Here’s the 2 hour chart of the vehicle I used.

sco

For much the same reason I wasn’t buying geopolitical hype with respect to gold, no way I was going to on oil.

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