Anyone out there have an opinion on USO?
Right now my investment all sit in equities and SLV and I'm looking for a way to diversify. With the recent wikileaks news and my overall sentiment on the US and Oil I'm thinking about jumping in. I've definitely got some more homework to do, but curious what others more knowledgable than myself think?
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its a crap etf to track oil with, there are tons of articles about how all the oil traders know when they rollover contracts and they game it... i think OIH is better to get exposure to the oil and the companies at the same time
The contango is brutal right now. If you want exposure to the commodity (not the energy companies) and cant' do oil futures, try something that takes less of a hit from the contango, like USL.
I'm not very bullish short-term on oil. I think it will average about $90 to $95 for this year when all's said and done, and most contracts are at or slightly above that range...
Long-term though, oil will go up, up, up.
stay away from USO. That etf strays terribly from the price it is supposed to track. Im souring on commodity etfs other than gold at this point.
Thanks for the advice everyone, I will definitely take your recommendations and do more homework.
LBT - I have been pretty successful with SLV and plan on holding it for quite a while. Something oil related is the only other commodity I'm looking to hold as part of my long-term portfolio.
Quod in commodi illum libero quia tempora. Quos suscipit eligendi atque qui officia iste omnis.
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