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  • Short-Term Oil Prices: Top Performing Algorithms Turning More Bullish (Data From Aug 27 Close) 0 comments
    Aug 28, 2012 4:55 PM | about stocks: USO, OIL

    Quick update on the algorithm summary that we published yesterday, with respect to the direction of the United States Oil Fund (NYSEARCA:USO) over the next 10 trading sessions.

    The majority of our algorithms are still projecting "Down" over the next 10 trading sessions, BUT our top 10 performing algorithms have turned decidedly more bullish on the short term outlook.

    Yesterday, only 6 out of the top 10 performing algorithms projected "Up" over the next 10 trading sessions (those projections were based on data from the Aug 24 close).

    Today, 8 out of the top 10 performing algorithms are projecting "Up" over the next 10 trading sessions (based on data from the Aug 27 close).

    Bottom line: There doesn't appear to be a strong consistent signal with this one, and we'll continue to monitor the trends in our machine learning algorithms.

    Access all backtests and signal summaries here.

    (click to enlarge)

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: USO, OIL
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