A side note I forgot is USL if you dont want to or cant get into
futures, Im sure Matt has mentioned it, (only on the blog a few
days, and all I see is USO), but it covers a 12 month span of
futures contracts, better for long term trading of oil. USO barely
met its previous high, while USL covered it by about 12-15%. I am
only acting like an expert on USO because I already got burned.
Bought @ 45 when oil was breaking 55, eventually got rid of it when
oil was @ 62, but USO was @ 35. My fault for not understanding the
etf. Nut look at USL, returned to the same or close price, not 20%
+ less, I took a bath for my own ignorance, should have been a
member then, would have probably been warned by the masters.
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USL
Oil -Matt
Posted by arissaj on 11th of Jul 2009 at 01:41 am
A side note I forgot is USL if you dont want to or cant get into futures, Im sure Matt has mentioned it, (only on the blog a few days, and all I see is USO), but it covers a 12 month span of futures contracts, better for long term trading of oil. USO barely met its previous high, while USL covered it by about 12-15%. I am only acting like an expert on USO because I already got burned. Bought @ 45 when oil was breaking 55, eventually got rid of it when oil was @ 62, but USO was @ 35. My fault for not understanding the etf. Nut look at USL, returned to the same or close price, not 20% + less, I took a bath for my own ignorance, should have been a member then, would have probably been warned by the masters.