Amazing. Just amazing. Right when you think you can't be any more impressed, you become a little more impressed.
I'm talking about John Monroe over at the Elite Opportunity Pro service. In Wednesday afternoon's edition of the EO Pro newsletter he made a bearish call on oil I wasn't quite so sure about. I became much more convinced in the meantime, with oil prices falling in a big way shortly after he predicted it. Crude was at $52.48 per barrel then, and now it's at $48.98. That's a very trade-worthy 6% move. If you played that with a put option or crude oil futures, you could have magnified the move even more. Not bad for one day's work.
How does he do it?
In any case, just to tell you what you missed if you're not a subscriber to the Elite Opportunity service, this is exactly what John had to say on the matter in Wednesday's commentary:
"I've mentioned recently the fairly strong possibility of oil somehow finding its way down around $50 per barrel, or slightly lower, before it could be in a position to stage another strong leg up, and based on what we're seeing right now, it sure looks to be the case. Provided below is a daily chart of light crude, and as you can see, a break of that long-term range to the downside would completely wash out some weak hands...
...if you want to speculate and take that shot, SCO would be the leveraged ETF vehicle to do it with, as that's the primary bearish leveraged ETF tracking the price of oil."
The ProShares UltraShort Bloomberg Crude Oil Fund (SCO) he was talking about, by the way, was up nearly 10% since John said what he said. Not a bad trading suggestion at all, presuming you got out after oil hit his target price.
It reminds me of something I said back in the February 23rd edition of the newsletter you're reading right now. We explained at the time:
"... just for the record, don't think for a minute the market's underpinnings and undertow aren't doing something which will eventually open the trading floodgates, for good or bad. There are a ton of things happening behind the scenes which are going to matter real soon. One of those things is the U.S. dollar."
Hopefully you were paying attention, and hopefully you're also a member of the EO Pro club. See, it was the U.S. dollar's action that prompted already-vulnerable oil into a steep selloff.
The trick, of course, is finding these trading ideas. It's easier said than done. And yet, in many regards it can be just as easily done as it is said. You simply have to go to the proven source, which in this case is the Elite Opportunity Pro newsletter. While the stock market has been trapped in a narrow range of late, a bunch of other commodity-based and sector-based ETFs and individual stocks have been moving plenty. John's been finding them too.
Case in point: Back on January 30th John gave Elite Opportunity Pro subscribers this trading idea:
"As for gold, provided below is a daily chart of GLD, the primary ETF tracking the price of gold. Most of you are fully aware we do believe gold is going higher on a long-term basis, especially as we enter into what we believe to be a reflationary economy, but pegging the bottom has been nothing short of tough. Based on what we're seeing now though, if gold is going to start trading higher, it should start doing it now that the precious metal has retraced about 3/8th's of the move from its December low to this month's high....
... It is possible gold could reverse itself and find its way down around the 5/8th's retracement level you see in this daily chart here, which is why we're going to keep a pretty short leash on the trade in the event it wants to work its way lower before potentially finding its bottom on the year...
...With that, we're going to go ahead and add both the VelocityShares 3x Long Gold ETN (UGLD) and SQQQ to our short-term trading list in an effort to pick up some gains, and protect against some of those extremely long-term ideas on our member page."
UGLD ended up being a 14% winner when the trade was closed out on February 28th. It's not too often you get to book a 14% score in a month.
And that's just a taste of what he's been passing along to EO Pro subscribers, without even talking about the service's longer-term positions. In the long-term portfolio,he's been holding out for even bigger gains.
But, we'll save that discussion for another time. My one and only point today is, John's done it again. A bunch of people just paid for (more than paid for, actually) their Elite Opportunity subscriptions with those couple of trades. Everything else is just gravy.
We've said it to you before but it bears repeating again.... there are two types of people in the world. There are the watchers, and there are the people who do things. It's the latter group that ends up winning the lion's share of what the market has to offer, simply because they get into the game and take action. Signing up for the EO Pro newsletter is a major action toward an end most other people will only end up envying. Don't be left out on the outside wishing you were in. Get in on the opportunities you've been missing. Sign up for the Elite Opportunity newsletter today. Here's how to get it.