Re: USO United States Oil
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.
Re: USO United States Oil
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.
Re: USO United States Oil
Put in a limit order today. I doubt I get it @ $50 with the oil report coming out today, but what the heck.
Re: USO United States Oil
I'm such a cheapskate. Now I will have to chase it.
Re: USO United States Oil
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?
Re: USO United States Oil
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.
Re: USO United States Oil
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.
Re: USO United States Oil
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.
Re: USO United States Oil
Re: USO United States Oil
What a one day recovery! Bounced right off of the 20 day SMA. I was getting a bit nervous.
http://stockcharts.com/h-sc/ui?s=USO...d=p51972347693
Re: USO United States Oil
One position is +15%% the other is +19.5%. Anybody think oil is going to get cheaper?