Should one buy USO now?

[S2007S]

The sponsor for the exchange-traded fund, USCF, says that it will suspend the creation of shares of the ETF as oil has been beaten down due to oversupply and a lack of storage. The ETF holds between 25% and 30% of the June contract for West Texas Intermediate oil. USO saw about $1.5 billion in inflows as retail investors have tried to pick the turning point for embattled oil prices

 

[xandman]

The sponsor for the exchange-traded fund, USCF, says that it will suspend the creation of shares of the ETF as oil has been beaten down due to oversupply and a lack of storage. The ETF holds between 25% and 30% of the June contract for West Texas Intermediate oil. USO saw about $1.5 billion in inflows as retail investors have tried to pick the turning point for embattled oil prices

USCF SummerHaven Dynamic Commodity Strategy Fund
Ticker: SDCI​

 

[FrankInLa]

They won't because equally the market does not price demand mayhem 8 months out. But it does 1 and 2 months out.

Now the new thought is all oil contracts will go to zero until the economy is truly open for business....sounds kind of tooooooo predictable

 

[NQurious]

USO is supposed to be liquidated, best Intel I could get atm

That would be great

 

[maxinger]

Do you think one should buy USO now for a low price?

When I was a newbie trader, I used to do that.

 

[alyale]

Don't do that.

 

[donnap]

Well, zero is a pretty good put option these days

 

[easymon1]

uso etf fiyer...

 

[murray t turtle]

They won't because equally the market does not price demand mayhem 8 months out. But it does 1 and 2 months out.

%%
OK ,looks right.
HAVE made money with UCO + ETFs like that. But ERX which is counter -trend, cant hold that one for long.And with oil down >> 90% from $150; I would not trade any of that stuff So no, on USO...………………………………………………………………………………………………………………………...

 

[mwgwin]

When I was a newbie trader, I used to do that.

It must be like a right of passage, because its killing me right now and I just cant seem to be able to eat the loss. I just watch it tick all day... Im so stupid.... ugh... I finally put in a Stop Loss at $2.30... I keep tricking myself that if I just wait for the SEC to approve more shares, or for the 8 to 1 split, it will pop for a few hours to make my money back and go...