United States Oil Fund (USO)

[Dio2000]

Here comes that crazy manipulation

[Dio2000]

Yeah I saw this during premarket

[Tha Part Time Er]

The U.S. Oil Fund USO, -3.87% said in a filing to the Securities and Exchange Commission that it may be limited in its ability to buy oil futures and may be required to invest in other permitted investments including other oil-related interests and may hold larger amounts of Treasuries, cash and cash equivalents. "Significant market volatility has occurred and is continuing in the crude oil markets and the oil futures markets. Such volatility is attributable to the COVID-19 pandemic, disputes among oil-producing countries over the potential limits on the production of crude oil, a corresponding collapse in demand for crude oil and a lack of on-land storage for crude oil. These conditions have severely limited USO's ability to have a substantial portion of its assets invested in the Benchmark Oil Futures Contract and certain other Oil Futures Contracts of the same month, such as cash-settled, but substantially similar, oil futures contracts traded on ICE Futures," the fund said.

[equijohn]

What Oil needs is China and India to fully ramp up, when that happens , sky is the limit

[Dio2000]

Oil will probably increase from the weekend travel alone

[equijohn]

Oil almost got back to even today after being down over $2.00. The ups and downs , but long term will be roses

[equijohn]

Ups and downs enjoy the ride , but long term will be fine , my $USO target is $40 and that's a very conservative number IMO

[Nightridertwou]

Manipulation as they bring out the new Tank rides.

[Lowjack]

There is no reason for this $74/bbl move in the price of oil! 50% retrace is -$3!

[imrichbeotch]

Yea it thinks it’s tanking lmaooo

[Bcbrasseur]

Lol this thing is tanking? You have got to be kidding me... so much #fakenews

[Dio2000]

I thought I was dyslexic for a minute...lol

[Nightridertwou]

It never was 16.67???

[Ace Trader]

Yep early surprise as I got out this morning @ 16.67

[Nightridertwou]

Oh well they brought back the free led balloons rides. Dam this thing is tanking.

[Ace Trader]

Thanks for your help. I’m trying to flip daily on the swings. So far I’m 40% right up 60% down on behavioral pattens. Pretty tuff right now with this up swing rally but ready to dump and pick it up again. I’ve Managed to do it 3 times last week. Yer $40 buy August is do able.

[Ace Trader]

Current rally V supply I see does not support more than $45 to $50. But this is oil traded on speculation so like in 2009 to 2011 $150 a barrel. At some point soon this really will cool, but when?

[Taurus69]

$uso $25.34

[Tha Part Time Er]

As more states open,,,,,, higher the prices go$$$$$$

[Dio2000]

Yep

[equijohn]

Demand will only continue to upgrade

[Dio2000]

The good thing about it all is that people are out traveling and getting in the shopping and vacationing they missed all corona-summer long, its going to be a frenzy! Lol

[Dio2000]

Looks like 2$25 is on the horizon

[pinoleropuro]

I think this is positive news for USO price.

[Dio2000]

Thats true

[Nightridertwou]

I doubled down the day before the split with hopes this would run with a lower average. Long shot gamble but we have a better chance now than before the split when the shorts devastated the stock.

[Dio2000]

I wish I could have bought even more during the dip!! Mann! I got some but didn’t have enough left to get some more! Lol

[Nightridertwou]

Yup to be expected. Yo yo time and remember we are having a down day market wise as the euphoria of a vaccine wears off. Up and down all around just hold on as the roller coaster spins around.

[Dio2000]

Look at that dip

[Nightridertwou]

TBH I don't know but anything is possible. I do feel confident that it will get to the 30-40 range.

[equijohn]

Down a bit in pre market trading

[Dio2000]

https://oilprice.com/Latest-Energy-News/World-News/EIA-Predicts-A-Record-Drop-In-US-Shale-Oil-Production.html

[Dio2000]

I wonder will USO ever hit $80-100 per barrel like pre-covid-19...

[Nightridertwou]

Wouldn't be at all surprised to see that. Hit 25.50 in the infamous after hours.

[Nightridertwou]

Be sitting even prettier as time goes on. I not going anywhere and have plenty of time to hold this until it gets to 50's or more.

[equijohn]

We might see $26 tomorrow

[equijohn]

Agreed , we all got in at the perfect time , and with oil trading over $33 a Barrell we are all sitting pretty

[equijohn]

Agreed , we all got in at the perfect time , and with oil trading over $33 a Barrell we are all sitting pretty

[Dio2000]

Oh ok, I was about to say whats the point? Lol

[Dio2000]

Im still holding fella...lol

[Nightridertwou]

Oh by the way Einstein many already lost. This is where you want to be in this at the bottom. Hello? Anybody home? lol

[Nightridertwou]

Really I'm telling you to hold on to it dum dum. Only way it is going is up just be patient geesh!

[equijohn]

After hours trading looking solid so far

[Nightridertwou]

Or sooner. Just hold on and sit tight. It is amazing though how it always dives at the bell then after close shoots up.

[equijohn]

Solid close above $24 today , Oil demand will continue to increase , Production cuts continue to be in place. And relatively speaking , $USO still bottom chart , so I fully anticipate $40 PPS by the end of summer

[Nightridertwou]

Always dives in the last minute at the bell lol

[Nightridertwou]

Always dives in the last minute at the bell lol

[Dio2000]

If everyone took your advice everyone would all lose....lol

[imrichbeotch]

Yep they real scared now!

[Nightridertwou]

I meant mid 23's or lower