Sunday, January 13, 2013

If You Believe Oil Is Trending Up, Forget About USO

There are so many voices on oil prices and where they are trending. Last Friday, I made my own call at about $102 saying the Libya shenanigans are largely baked in, and to get ready for profit taking. Oil prices have ticked up a bit since then, and people can still hold my feet to the fire for a little while longer.

But today, I want to say a few words to all the long term investors who think Oil is still going going going – The United States Oil ETF (USO) ain’t your friend.

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