Jumped a bit early this morning with low bids on STO (yes, despite the credit downgrade) and WPL. Both my bids were filled during the day. At close my STO position was down by a gnat's whisker and WPL finished up about 3 bee prongs.
Looking at ETFs I am interested in USO and UWTI. USO is non-leveraged, high volume and down 31% YTD. The average daily volume across 12 months is 8.7 million, but with 12 million traded last night.
For those with a penchant for leverage UWTI is 3X, modest volume and down 72% YTD. The average daily volume across 12 months is 188,000, but with 750,000 traded last night, and about 800,000 per night traded on average across the last week or so. The UWTI weekly chart shown below was set up quite well for range trading until support at 25 was broken on 25-Oct-2014. At present UWTI is marginally above the 52 week low and very oversold.
Depending on what transpires over the next few hours, I might open small long trades with USO and/or UWTI later tonight.
