Yesterday, just before the close, I mentioned going into a very large long position on USO.
One reader mentioned how I was probably too early, since – – just after the close – – a very bearish report came out about crude oil. I was a little disconcerted to see that, but as a "pure" chartist (or as much as I try to be), I didn't let it faze me.
Good thing too. USO looks super.
