USOIL: Top is in?I'm fairly certain we're seeing an intermediate term top in oil here. I'm short, via a 3% long position in $SCO. (I'm also long $USDCAD, $USDMXN, $USDNOK)
I'm open to going long again, but I think we'll see profit taking a rapid decline next.
Risk a new high, 0.5% exposure and off you go.
Cheers,
Ivan Labrie.
