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USO - How about OIH?
Old 02-13-2009, 01:44 PM   #41
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USO - How about OIH?

Originally Posted by ziggy29 View Post
I'm suspecting that the contango mentioned above might be a factor. Basically while crude prices are low but the future contracts get more and more expensive as you go out farther and farther, you have a situation where USO can remain in the dumps even if oil rises, and fall harder when oil falls. As long as the contango remains this strong, USO may not even rally with a rally in oil prices, if the farther-dated future rise as much (or more) as the current contract.
That's just going to be too complicated for me. I am willing to bet that oil is double or triple $35 in 12-24 months but I'm not sure how.

Any opinions on OIH?

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