During the weekend I marked UCO as a possible short based on the price on the daily chart breaking below the trendline. However, Iran is in the news today with the EU's ban of Iranian oil and Iran threatening to disrupt oil transports. That made me buy a position of UCO this morning instead. A few more oil scares should send price of UCO higher.
GDXJ (Junior Gold Miners) had a confirmation today of its break up through the down sloping trend line. That made me buy a small position in GDXJ. I might be a little early with this one since it didn't finish with a good bullish candlestick today (I bought earlier in the day when the candlestick was more bullish), but I'll give it some room to test the trend line.
Howard Milano
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