Oil (USO) Entry 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. Share this:TwitterFacebookGoogleLike this:Like Loading... 2 thoughts on “Oil (USO) Entry” Add yours 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 LikeLike Reply 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. LikeLike Reply Leave a Reply Cancel reply Enter your comment here... Fill in your details below or click an icon to log in: Email (required) (Address never made public) Name (required) Website You are commenting using your WordPress.com account. ( Log Out / Change ) You are commenting using your Twitter account. ( Log Out / Change ) You are commenting using your Facebook account. ( Log Out / Change ) You are commenting using your Google+ account. ( Log Out / Change ) Cancel Connecting to %s Notify me of new comments via email.