BrokenArrow
WKR
I am really considering a long gamble on USO. they scrapped all their short term May oil contracts. They Restructured their buy philosophy completely (which was month-to-month) and now bought out long contracts in June (15% cap of fund), July 15%, August 15%, sept, oct, and so on. The interesting thing is oil futures are priced out to those months at the highest of $25/barrel in October. It’s like $21/barrel for July. I believe oil will rebound with limited production for limited companies (since a bunch are about to bankrupt). Hopefully those barrel prices increase to $40 or $50 a barrel this summer, since $18 right now is not sustainable. That fund could crush it with the long term contracts it bought now. I’m holding steady and my Magic 8 ball better be correct!The red line just keeps going down, down, down.....what are y'all buying?