USO is very oversold. Price went down almost continuously from 40 to 28 and seems to be stabilizing here. I may take a small position on weakness.
I already have an intermediate term holding in DXO.
2 responses to “Oil (USO) Entry”
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Best of luck. This market is in a major confirmed downtrend and I see no reson to be involved at this point. Lot of people have been attempting to pick a bottom since above $100 oil. So far, ALL have been wrong.Dutch
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I am not attempting to pick a bottom. This is a short term “oversold bounce” trade (not a bottom pick). I’ve used this trade many times since summer and it has worked out quite well.
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Paul J Singh 
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