The put/call ratio is so low , it shows tarders are too bullish. We can rally into the year end but there is some selling pressure.
The USD is up a bit and Oil is below 40. I am trying to see if i can pick up some USO or DIG to trade Oil on the long side. Not sure if Oil will bounce today or go to $35 first. But the risk/reward is pretty good for a trade. Meaning the risk is Oil falls to 35( maybe ) and reward is it goes up to 50 and beyond.
This is what I might do, I will put in very little money buying some calls. Some analysts have said Oil might go to 25 , in that case the whole trade is off. Thats the reason its so tough to trade.
Trade at your own risk.