Oil Rig Count and Predicting a Rebound

[murray t turtle]

You could probably do some call spreads on USO or something if you are expecting a move up in oil. That might reduce your downside risk and still give you plenty of upside. A couple months ago I put on several uso call spreads for almost nothing. I would need oil to hit about $60 in the next 2 months for it to pay out fully (unlikely) but it cost me very little to enter anyways, so no big deal.

Just a thought.

Currently, the total US Oil Rig count for the US is at 757, a mere 8 rigs higher than 2002's count of 749. With the increasing amount of small oil companies approaching default, can we expect a rebound in oil prices?

I currently hold some ETFs that are long oil as well as some major Oil companies (exxon, bp, etc). I purchased my securities in early October and plan to hold for at least a year. What's everyones thoughts on this and what price expectation do you have for oils price a year from now? I'm ...hoping for mid 60s price range.

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MODERN TRADER magazine[FEB,2016] forcasts{NOT PREDICTS} WTI 2016 low @ $26.84; upper trend price $65-$83. Sounds right the; down trend may favor $20 or $10 40+/, before its hits$ 65- $83.Not a prediction.