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