I'm considering a quick trade with USO...
Its funny that prices never really came down in California... well for 2 days maybe then they shot back up all the while UCO has been down.....
...it's nice to smash a trade.
How long will it stay below $87/barrel?
Until Obummer gets re-elected!
Then its up to 125 a barrel!
I guess the answer was: "not long"...?
Not long after Israel invades Iran
Could drop to $50 - $80 range and stay there for several years. Anything above $80 is NOT sustainable for long in our economy. Could fall back to the $30-$50 range for a while too, if the economy gets rocky enough.
Could bounce back when the Hurricane Torn regions get back to Normal !!!!
Uso at 30 is a nice umber to get in a shortnterm trade.