The Black Box

[dieselfuel]

Hi WAHZ, I was just thinking about the USO and decided to run some numbers.

It looks to me like crude oil is currently in a W5. If that's correct, then I have $138 and some change as the peak for the USO before a MAJOR correction. I think that is equal to crude being about $151/bl.

Here's a profile for the USO in case anyone here is interested.

From Yahoo:

The investment seeks to reflect the performance, less expenses, of the spot price of West Texas Intermediate (WTI) light, sweet crude oil. The fund will invest in futures contracts for WTI light, sweet crude oil, other types of crude oil, heating oil, gasoline, natural gas and other petroleum based-fuels that are traded on exchanges. It may also invest in other oil interests such as cash-settled options on oil futures contracts, forward contracts for oil, and OTC transactions that are based on the price of oil. The fund is nondiversified.


http://finance.yahoo.com/q/pr?s=USO