Friday, February 02, 2007

UA - no catalyst, double down on USO breakout

I've reconsidered my UA long trade and exited today with a small loss. The miss was due to investment in growth, yes, but lack of upside surprise also removes the catalyst for the stock to go higher. The story isn't there at the moment. I still like the stock overall but I think its dead money for now and there will be a better entry point.

I like the oil breakout here, and I think we have another 10% move to the upside on the way. I've increased my long.

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