some working class people might have a 401k or IRA invested in mutual funds
i think you're breakeven was around this price, if i'm correct.
i've sold calls on my positions of USO (& UNG) all year long, & it's been working out for me.
kingly, have you considered selling covered on your position, i think you would had made $ the last couple of months doing so.
is this what's called contango?
does contango wrap up, after May 27; at least for the month??
Thanks for the feedback!
USO broke above the $20 resistance level (finally), held support above $20.20, & breached above 21, most recently. it's in the middle of a moving average crossover forming (50 & 100 day). i take this as a breather.
so, i'm sitting here, reading some of the comments, like, rig count is down, but some might be going back online, & fracking might be making a comeback. meanwhile, USO has hit a high for the year, & also, looks like a 50/ 100 dma crossover is about to form; & i'm wondering why the shorts are so adamant, at least at this time.
also, we're heading into the summer driving season, & this should lean in favor of the bulls.