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United States Oil ETF Message Board

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  • eastofeastside eastofeastside Aug 24, 2010 1:27 PM Flag

    I'm all in equities and oil on the selloff folks...

    Question is why has Goldman and the speculators allowed oil to get this low? I think they are anticipating a broad global market sell down.

    I don't think oil will go much lower beneath 70 but enough so I will be buying the UCO shares at $7 and change instead of $8 and change.

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    • it's just classic bogus fear. There is absolutely no reason at this point in time to fear another market collapse. Things are 10 times better than they were back in Feb/Mar 2009....I will argue that equities are way cheaper now than they were back in the 1st quarter of 2009.....

      I cannot believe I've gotten the opportunity to get in at these prices.....this market is going to rip into the close...there's absolutely no reason not to.....they're practically giving away free money here.

      • 2 Replies to GREENFLD
      • greenie said..
        "I cannot believe I've gotten the opportunity to get in at these prices.....this market is going to rip into the close...there's absolutely no reason not to.....they're practically giving away free money here."

        andthepoint said...
        Keep buying...the more bagholders the more downside pressure.
        If everyone was bearish I would be really concerned.

 
USO
20.40-0.1100(-0.54%)May 1 4:00 PMEDT