Replies to post #181 on Crude Oil Discussion Board

[JohnCM]

Looking for a way to play the BULL off the WTI bottom.

All of the producer ETF charts have been heading higher. Not sure about USO. I guess I would have to time that one right.

I do not trade options, commodities, per se. Only ETF ETN funds, when I am not a stock picker.

What would the timing be for buying USO? If you are looking for a low in CRUDE June? May may be too early. The storage crunch I would think will be at it's breaking point in June, and it appears we may be on the way back to consuming CRUDE again in JUNE. Saudi Arabia thinks they are soooo acquiescent in their majestic generosity with their production cuts. Where were they 1 1/2 months ago? Playing footsies with Russia while the world was crumbling.

Now, besides the worldwide cut of 20 million barrels, I think we are still approximately 13 million barrels off before we break even.

Did you see the Mad Money segment recently with the Parsley Energy CEO? This fellow is fantastic! Most of the domestic producers have to rally and cut to save our nation's crude oil self sufficiency and jobs.

https://www.cnbc.com/video/2020/04/15/parsley-ceo-pandemic-to-cripple-domestic-oil-without-action-from-texas.html?__source=sharebar|email&par=sharebar