Let me save you some of your hard earned money, friend. WTI going below $10 per BOE, possibly as low as $3.00. I recommend you stay short and don't buy into this mess. The USA is at the start of a mega depression the likes of which the world hasn't seen since the 1700's, oil production is going to fall and fall and fall, there is so much supply right now it can't all be stored. Thank me later
All these investments basically made in a lab problem that they erode everyday..they are not long term plays. Also with uso futures are involved, contango etc etc. Just cuz oil goes up today doesn't mean uso goes up correlated. Also from having used uso it generates a k1 which always comes late and is a pain...if you are playing long term but the big ones with good sheets..if short term play the trash oil companies cuz they move greater then the stable playersDoug, tanner is correct. The correlation of WTI and USO is hardly perfect. I'm no commdities trader , i do use USO and levered etf's on swng trades that last anywhere from a day to a week , tops
futures are up.. in 2 hours, love this shit
Let me save you some of your hard earned money, friend. WTI going below $10 per BOE, possibly as low as $3.00. I recommend you stay short and don't buy into this mess. The USA is at the start of a mega depression the likes of which the world hasn't seen since the 1700's, oil production is going to fall and fall and fall, there is so much supply right now it can't all be stored. Thank me later
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CALL OF THE FUCKIN DECADE...did you short it? ..............i owe you an apology, thought you were posting from a mental institution