Nice "forex news"-style trade done today at 10:30 AM, with the Crude Oil Inventories coming out lower than expected - for the ninth straight week. We traded the USO ETF, which measures the overall oil market. I noticed a resistance at 50.55, which happened to be the trigger and fill price. We stayed in for .17 cents, and although it retraced, it came back and shot up some more. Made some money off that, but unfortunately, these profits will probably go back into the gas tank due to recent high prices at the pump!
STOCK: USO
TRADE: Buy
ENTRY: 50.55
RESULTS: +0.17 PROFIT
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