USO United States Oil

**Show-me** · 04-10-2007, 01:56 AM

Looking to buy. Major oil fields production declining and no new major field are being found. Demand continues to increase, storm season around the corner, and refineries are at capacity. We, the U.S., are addicted to our independents and motor vehicles. China is growing and trying to become like us, independent and prosperous. Iran............need I say more.

Looking to buy some tomorrow and ladder down if it continues down.

Three year chart.

Six month chart.

**Show-me** · 04-10-2007, 01:58 AM

Profile from Yahoo.

The investment seeks to reflect the performance, less expenses, of the spot price of West Texas Intermediate (WTI) light, sweet crude oil. The fund will invest in futures contracts for WTI light, sweet crude oil, other types of crude oil, heating oil, gasoline, natural gas and other petroleum based-fuels that are traded on exchanges. It may also invest in other oil interests such as cash-settled options on oil futures contracts, forward contracts for oil, and OTC transactions that are based on the price of oil. The fund is nondiversified.

**Show-me** · 04-11-2007, 03:47 AM

Did not get to buy my oil today, but I will get some soon. If the Fed Minutes are inflationary I would not know what direction oil would go. I would think down. If the market takes a hit "all ships rise and fall with the sea".

Me likes Suncor too. SU for u home gamers. Nice channel and they are coming to the top of it.

**Show-me** · 04-11-2007, 12:53 PM

Put in a limit order today. I doubt I get it @ $50 with the oil report coming out today, but what the heck.

**Show-me** · 04-12-2007, 01:53 PM

I'm such a cheapskate. Now I will have to chase it.

**Bullitt** · 06-18-2007, 10:59 PM

USO just broke thru 200 DMA today. Prior three days have had up days on high volume. Could be a good entry point. USO is tough though, doesn't that basically track the price of a barrel of oil? One would think that the price of oil should have an inevitable upside.

Ever take a look at OIH or PXJ?

**Show-me** · 06-19-2007, 01:24 AM

Hey Bullit,

Yes and no on the tracking oil. It has other assets, but does OK. Yes I think oil has an upside until they come up with a practical alternative or bird flu kills off 7/8 of the population. Not funny, but I'm in a strange mood.

I'll hold this one for a bit until I find something else. My favorite is SU and I was watching HNR, but I'm a day late.

From Yahoo:

The investment seeks to reflect the performance, less expenses, of the spot price of West Texas Intermediate (WTI) light, sweet crude oil. The fund will invest in futures contracts for WTI light, sweet crude oil, other types of crude oil, heating oil, gasoline, natural gas and other petroleum based-fuels that are traded on exchanges. It may also invest in other oil interests such as cash-settled options on oil futures contracts, forward contracts for oil, and OTC transactions that are based on the price of oil. The fund is nondiversified.

**Show-me** · 07-09-2007, 02:57 AM

Still holding USO. I'm up 10.5% from my two purchases. Chart still looks strong and demand is not declining. Go Ethanol.............. BAHAA HAAA! You can't grow enough corn to put a dent in the demand coming.

**Bullitt** · 07-09-2007, 06:51 AM

Besides, even if they could produce enough ethanol, it still needs to transported from A to B. Trains and 18 Wheelers don't run on ethanol...

Just checked the chart, maybe I should have taken my own advice about getting in on 6/18. If it goes above 55, it's gone. No overhead resistance past 55 for a while.