T MOE

Buying USO Is a No-Brainer

Buying USO now is premature. Oil drops to $30 very soon. Just like they over did it on the long oil speculation trade it will be over done on the down side. XOM , RIG are good shorts here. RIG's contracts will soon be redone. The exploration companies will refuse to pay the extreme day rates of the past in this environment.
Oil will not stay down in the dumps forever but getting long here is a mistake IMO