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Reply With QuoteStill hanging in there even though it hurts. Bought this at $49.95 and $48.32 so I have some cushion.
The 50 dma could be a support point.
http://stockcharts.com/h-sc/ui?s=USO...d=p51972347693
TSP Guru
Re: USO United States Oil
I struggled on whether to sell this one and decided to ride it out. Oil ain't getting that much cheaper. If the market takes back off, oil will take back off.
Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."
TSP Guru
Re: USO United States Oil
Still hanging in there even though it hurts. Bought this at $49.95 and $48.32 so I have some cushion.
The 50 dma could be a support point.
http://stockcharts.com/h-sc/ui?s=USO...d=p51972347693
Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."
TSP Guru
Re: USO United States Oil
Still hanging in there.
Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."
Moderator | TSP Legend
Re: USO United States Oil
All I can say is if it breaks $80-----I would sell!We're fighting inflation right? What is the biggest factor in inflation in the USA, I think it's the price of energy!
Links Crude Settle$89.90 05-23-2012
-1.76 loss
TSP Guru
Re: USO United States Oil
Sold USO to free up some cash. Made a new high and I feel it is due after a strong run. It is not out permanently just may have some other fruit to pick.
Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."
TSP Guru
Re: USO United States Oil
Sold both positions @ $59.75, not a bad trade. Now watch it go higher yet now that I sold it. LOLOriginally Posted by Show-me
Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."
Re: USO United States Oil
Time to start moving back into USO Show-Me? Nice exhaustion gap below the 2 year support yesterday could be a reversal indicator.
"Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog
TSP Guru
Re: USO United States Oil
Yep, it is screaming buy. AlphaTrends says it is a buy. Saudi's will not let the price stay down for long they all have big projects to fund.
Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."
TSP Guru
Re: USO United States Oil
Looking to buy some of this soon.
Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."
Re: USO United States Oil
Wow, forgot about this thread. Too bad USO doesn't track crude so well when it trades in contango and all, but the end of November would have been a good opportunity to begin buying.
USO breaking down here, but I think this is another buying opportunity. I don't expect oil to go much lower than 70. OPEC won't allow it.
"Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog
Re: USO United States Oil
USO right back to where it was around 12/10/2009 which really would have been a nice entry point at the time. The only problem now is, USO has not only broken the trendline, but also has broken the 200 DMA. Where do we go from here? This is another major signal that the market is telling us right now.
USO1.png
"Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog
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