02/24/11: Twelve Percent Profit from Short-Term Trade
United States Oil Fund (NYSE: USO), an exchange-traded fund that tracks the price of West Texas Intermediate (WTI) crude oil, has rallied about 12 percent since we added the stock to the Growth Portfolio in A Short-Term Trade on WTI, a Flash Alert issued on Nov. 7, 2011.
At current prices, WTI crude oil appears overbought and is approaching key resistance points, while the stock market is due for at least a near-term pullback after running up in the new year.
Sell United States Oil Fund and book a 12 percent profit on this short-term trade.
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