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Friday, December 26, 2014

OIL bottomed?

With OIL so weak, last week seems to have the heaviest Volume and a bounce back, with Saudi's tone changed. I believe last week is the bottom at least short term for USO. I started the position around here and the stop out would be the low of last week. I do expect the selling into the year end just because fund mgr do not want to list this in the statement. After it, most will believe USO Will be higher by the end of 2015. Is it possible for it to move into the 20s or 30s.. without the Fed not fear the eventual drop in the general market?

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