Archive for the ‘ultrashort s&p’ tag
USO up 26% in a week. Time to sell?
Not necessarily. USO still has upside. It might experience some short term profit taking, along with the rest of the market, but this is a great hold until oil gets to about $60/barrel. At that point it could hit a trading range and could trade sideways for a while, but we’re still at $46, so hold onto it. I recommended keeping an eye on this ETF back on November 30 and I got into it when oil was at $37. If oil goes down again, jump into it.
