May 22nd, 2008

USO: Sold My Oil

Hope I’m not getting too cute here, as I think the long-term trend in oil prices remains upward. But all the “oil crisis” talk on CNBC, along with some other indications that the market is a little frothy here, have led me to take my money out of the oil ETF in hopes of using the same amount of cash to buy more shares later.

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2 Comments on “USO: Sold My Oil”

  1. CNBC Bonus Bucks Trivia: By The Numbers blog: Which “winning energy stock” had the greatest 6-month percentage change (as of May 20)? | Stock Market Beat

    [...] this talk on the energy crisis has led me to sell my own shares in the oil ETF (USO). However, I still think the long-term trend is [...]

    May 22nd, 2008 at 3:09 pm
  2. CNBC Bonus Bucks Trivia: Energy strategist John Kilduff used which social-psychology term in his oil blog “The End of Daze”? | Stock Market Beat

    [...] I noted at the time, I also took it as a sign of a top and sold my position in oil (USO) in hopes of buying back later at a lower price. Like this article? Why not try [...]

    June 2nd, 2008 at 9:08 am

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