Bought uso today and looking to add more on any 10% dips. Remeber, uso was upper 30's today before our idiot govt's. report, now at 27. Think we can easily see low 30s by summer time. Investors or traders come on in. Uso, anyone else buying?
I bought some today at $27 too. Also sold a $35 April 2009 call for $0.80, making my effective price right around $26.20. Doubt it will hit $35 by April, but if it does I'll make some money, and if not I'll just keep selling out-of-the-money calls 3 months out to keep bringing that price down. Nice thing about uso is that you own the actual commodity, not the company that produces it. Oil isn't going to go bankrupt, or have an accounting scandal, or need a bailout. Oil is just oil. =)