In recent videos, we discussed the oversold oil markets and discussed the lessons learned from a number of hedge funds blowing up because of the volatility in the oil and gas markets.
Although we still have open a bull put credit spread as a Master Trader Income Trade, we have been watching for weeks USO for a possible short-term oversold directional trade.
Oversold does not mean to buy it. Nor is oversold a compelling pattern to justify buying.
The Video analyzes USO on multiple time frames, discusses traits of trend strength, how to properly trade a bottoming pattern – and what we are looking for to buy USO as a swing trade.
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Greg Capra
Managing Director of Master Trader
Trading the Pristine Method — Origin and End
Dan Gibby
Chief Options Strategist
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