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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: Kayaker	2/16/2009 11:39:21 AM
	5 Recommendations Read Replies (4) of 206328

Don't Buy USO (Buy USL Instead) Written by Matthew Hougan Monday, 09 February 2009 07:59 Investors are pouring money into the United States Oil Fund right now. They must be out of their minds. I have nothing against people wanting to buy oil at $40/barrel. That's a cheap price, and there's reason to believe that spot crude may rise over the next six-to-twelve months. OPEC appears to be sticking by its production cuts, overall supply is down and it feels like the global economy may be leveling off. Oil could easily go to $50/barrel, which would be a 25% jump from here. Where else in today's market are you going to get that kind of return? But if you want to profit from that rise, USO isn't the way to do it. This is a big deal. According to the Wall Street Journal, investors poured $3.46 billion in new money into the U.S. Oil Fund (NYSE Arca: USO) in December and January. That makes my hair stand on end, because those investors have gotten crushed. And if things stay the way they are today, they're going to continue to get crushed.... indexuniverse.com

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