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United States Oil Fund

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USO trade ideas

Potential long term view of some key marketsUSO: Line of support under $0.00 (if that's possible). This line could be forming basis for up sloping PF and the lower parallel CL1!: Biggest question is if median line holds this drop or if a decade of sub $0.00 prices is setting up. If next several months hold above the red median line then price could move off it. If April and ensuing months close below the median line the a test of last weeks low could be possible. SPX: If current levels holds then another try at 3340 early in coming year. XAUUSD: It looks like Gold is bullish well through 2020 and into 2021 maybe target in $2060 area
AMEX:USO
by mxb1961
1
$USO $3.5c 4/24 Short-Term SwingUSO continues to follow the purple downtrend I drew last week. The short term bull trend couldn't hold and today opened below the support levels (shown as 1st the horizonal purple line). I was able to get cheap $3.5 calls at market open, and could've taken a 75% profit but decided to chase more gains (bad move) and the market closed with my options up about 30% instead. I'll be watching market open tomorrow to see if it'll be possible to squeeze some more profits out before selling. If not, I'll be selling before I get into the red.
AMEX:USOLong
by CameronDWills
1
USO Long, option trade with big stop bufferImportant Note: USO long term target is "0". It is only good for short term trading. If it sounds strange, please google the reason. Existing Condition: 1. Double bottom pattern 2. Breakaway Gap(G1), trend line break. Stock Entry between: open and under 2.80 Stop: 2.2 (down to new low) Target1: 4.2; risk/reward=1:2 Target2: 5; risk/reward=1:3 Prediction: Next Breakaway Gap(G2), next trend line break. In option trade, I bought 2021 Jan Call Butterfly C3/6/9 (Delta 0.26), limit 0.47; Sell P2 (Delta -0.21) Limit 0.46; Total simulate long 47 shares stock for free. Stop below 2. According to Today's oil futures price: (Following futures could be found in Tradingview Futures list. In other platform, the symbol might be different.) Jun (CLM2020) from $13 to $18; Jul (CLN2020) from $18 to $23; DEC (CLZ2020) from $28 to $30; I estimate Oil price will go up from the bottom in June . This is a trading school homework. I need 6 months to practice trading plan. If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
AMEX:USOLong
by PlanTradePlanMM
USO - Long Hold. Amazing what is happening with OIL. especially USO. I know there is a lot of fear in the market...but imagine you were sitting on some cash (cause you listened to Matt about financial markets being overbought and you protected yourself). Imagine you bought USO at this level...imagine in 10-15-20 years what that position could look like? Sure we could all go electric, not happening anytime soon. Plus everything is made of plastics (reality). Sure we could run out of oil...wouldn't that drive prices up? Sure we could go lower, more upside than downside from my analysis. I see this as an amazing place to buy this equity, I will ride whatever drawdown comes and be holding for 10+ years. Good luck out there...these are crazy times. but acutely crazy and we shall all be on our feet again soon(ish) I hope! -Matthew Armstrong - CFTe
AMEX:USOLong
by MattArmstrong
30
Retail idiots paying rounds of drinks, but expect regulations...There are ways to make a lot of money with controlled risk with wti futures (very limited if done right but don't try if you aren't very knowledgeable in this area), but who is paying for all of this free money? Altruistic retail investors of course! A few weeks ago there was a massive influx of retail money into Oil long ETFs. USO holds I heard about 1 third (!) of open interest for the front month (all long). I think they were part of the reason why May went to minus 40 (they had to rollover). There is still a huge contango between June & July, and as every one knows retail NEVER sells. Their warcry is "You don't loose if you don't sell", therefore this situation can last a while until the ETF collapses completely, or the SEC/CFTC/FINRA shuts it down. There are opportunities to make money, for example with the big contango, as well as potentially when this mega whale rollsover their contract, or when they * joy cry * have to liquidate all assets (imagine the shock to Oil futures!). I heard people say that many of their friends are calling them all excited to speak about buying Oil, and they bought this garbage ETF. The thing is these reptilian brains for some reason think they are buying spot Oil, or maybe even physical, they have NO CLUE what they are buying. They're buying contracts for a specific month. And creating a big problem. And are going to get decimated. I don't know if they are buying because of some random indicator or because they think Oil is cheap or because they are simply programmed to go against trends the more strong they are the more they go against... The ETF is losing more than Oil. LOOK AT THIS: The ETF since its creation goes down more than Oil and goes up less. These cretins are bleeding money constantly and happily buying more and more. Why do they have to be so enthusiastic about negative sum games? Bitcoin that produces nothing and burns money via exchange & miner fees, this.... Stupid things can last a long time, but I have a hunch this won't last much longer, we are in the capitulation period, huge exponential influx of dumb money, on Robinhood alone 165,000 holders. As traders pile on the opportunity the huge gap will lessen and it won't be as easy to profit from. It's only interesting because the gap is so enormous. From the FT: And the gap right now is 33% for only a 1 month difference (was 43% hours earlier maybe it's over very soon). If the difference in price becomes too small there probably will be the chance to go short around the expiration date for june, and short when the ETF has to liquidate, and there probably will be more other scams like this. Millions of hurray shouting retail investors are doing all sorts of dumb stuff and ignoring advice and all this money they will lose, billions and billions, has to go somewhere, might as well end in our pockets. We also have russia & the saudis on our side, they're so going to run us companies out of business. When they realise they got fleeced, they'll cry, and it will be a sensitive subject, and the useless regulators might strike again. If it's just a few hundred thousand buffons getting scammed it might not be big enough for regulators to make big changes, hopefully. But with the internet, the much lower costs, the way investing all your money in anything got made so easy, more and more of this will happen, and at some point some big rules will be put in place, and not just warnings (like those help, they keep repeating so often it's irritating "wow watch out this is very risky make sure you understand bla bla bla"), perhaps even a complete interdiction to participate in markets for retail... It would be a shame for the next generations, I don't worry for myself by then I certainly will be able to just take the professional status, but what about new people with potential? Perhaps markets are better off without all those casino regulars. Will keep an eye open and extract as much as I can from their pockets. WTI is going to be insane I think until they get completely wiped out. How do you can having negative remorse? The opposite? Because that's what I have for taking advantage of the situation. Talk about a wealth transfer... CNBC has an article on this, lmao they are calling those investors "retail tourists" I'm dying xd If those people have so much money to lose and don't care what they buy, can I have some of it? Just send it directly to me... www.cnbc.com (They got a crude awakening hohoho) Go figure... Hey I just created a family business tracker, tracks the price of my poops and farts. Poop price is dirt cheap, down 99%! And farts price went up. Quick warn the retail investors! They don't want to miss this opportunity.
AMEX:USOShort
by MrRenev
7
I Think USO Will Go Down, So Naturally I'm Buying USO CallsWho really needs OIL anymore? We have the sweat and tears of the new investors trying to figure out this market, right? Wrong! Donald J Trump, chicken nugget of the United States of America, is running out of baby batter. A glowing tan is important for president, if not, how can be young and nimble? Answer: CANT. Ok let's predent do some technical analysis: Fibonacci. Now that we did that let's get serious. Dodo will buy oil from oil place while it's still inside the comfortable cradles of the oil mine, ok? We do that to save the workers cuz if you buy that oil and say, hey bro, ima buy such cheap oils from you rn but you dont have to mined it yet, then you dont has to put that oil in a tanker or nothing just leave it there bro and we will take it in a few years when it's, idk, maybe 50 bux or something (lol jk but really tho). You ask, coinholio, my gentle tard, does this mean that economy will be save? Answer: no. Oil companies will get boughten the oil because jaret kushner will read this post and think its good idea (so meta, but that's ok, he won't read the whole thing he's kinda got ADHD and at this point he is already jacking it on henta hevaen). Basically they will boughted all this oil and then oil company will be all, well, they boughted all this oil, but do we really wanna pay these guys all these moni for nothing when they aren't doing no work? So they make fired and pass cost up to tax payeds and people say "oh well they did their best". OK so but what about contigo and all that stuff. There's no time for coffee right now. The USO will just change the rules and say hey you know what, we don't like the rules so lets do something else. See, no more contigo issues. Drink tea and marmalade. Basically I applied to MAC DONALDS as a second job now because I boughten over ONE THOUSAND dollar of these calls options. I don't really think that oil will go to that high, to be TBH with you, but the important part is that some one just a bit smarter than me will think it will, and then we can sell these option to thems people (again, im glad jaret doesn't read too much). Thank you for watching my video, please like and subscribe. Online peoples approval very important stuff, especially in these trying times. Remember that wen ppls say to do something, do the opposite. Except for wen I do it, then do it, because I want you to do the opposite it is REVERSE PSYCHOLOGY. The only way to win is to do double reverse psychologyies. Remember I already boughted these so in order to get moni you need to buy now! USO $5 5/15 100
AMEX:USOLong
by coinhoIio
10
Honey, is it time for the Jetski and Convertible again? AMEX:USO Looking at the Weekly chart, USO is oversold on RSI . Sell off VOLUME is enormous and appears to be slowing. We're also sandwiched in between the weekly ($4.30) and monthly supports ($3.70). From these regions, I am looking for a bounce up in the near future to retest resistance (highlighted) in blue, especially if we're getting close to a rescinded "lockdown" order. I anticipate oil demand to rise sharply with immediate "recreation" travel demand, i.e. Road Trips, Jetski's, ATV's, Cruises, etc. Let's be honest, who in their right mind will remain at home one sec longer after having spent a month + in isolation? Time will tell with this one. Good luck! NOTE: NOT TRADING OR INVESTMENT ADVICE> ENTERTAINMENT ONLY!
AMEX:USO
by tantamount
6