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June 10th MSO Trader Talk

|Includes: ProShares Ultra Oil & Gas ETF (DIG), SLV

What the BP Gulf situation has done to energy stocks is something that no one could have foreseen or has experienced. It certainly has effected our DIG holdings, but things are starting to get a normal feel again and it would not surprise me to see DIG above $30 before options expiration next week.

And even though I'd like to raise my cash levels, (I'm around 20% cash) I've worked DIG enough over the years to feel very comfortable with our holdings. And when DIG does get back into the $30s we can either raise cash, sell covered calls, or some of both.

Otherwise, this has been a great daytrading market, a traders market that I believe will continue well into earnings season next month.

Even if you can't daytrade, shorting on green days and covering on red days is something real simple and profitable to do.

Good things come to those who wait and within ninety days, we'll have made some good money on both DIG & SLV.

Disclosure: Long DIG Long SLV