Today (even the past few days) has been interesting to watch how oil reacts to Ike, the hurricane, not Turner. The AMEX Oil Index (XOI) is up almost 2%, but oil ETF USO is down a half percent. I recognize they aren’t tracking the exact same underlying issues, but that’s a big difference when both…
Tag: oil
Book Review: Profit From The Peak
Wiley Publishing sent me a copy of Profit from the Peak a couple of months ago and I finally finished reading it while on vacation a couple of weeks ago. The short review of Brian Hicks and Chris Nelder’s work is that it’s a good book and worth the read for anyone investing actively now and anyone who…
Sold Oil ETF USO Naked Put
I bought 100 shares of USO (an oil ETF) at $99.00 and sold a September 98 covered call for $6.80 in my IRA a little more than two weeks ago. I’ve watched the price of oil fall fairly steadily since then. Around the same time I entered a limit order to sell a naked put on the same…
Oil ETF USO Chart – August 8, 2008
I charted USO this morning to get an idea of where the price of oil might find support. Don’t get too excited when you see these numbers, USO and the price of oil are not equal and do not move dollar for dollar. USO is down more than 20% from its high, making it a…
Oil ETF – USO Chart – July 11, 2008
I’m charting the oil ETF USO again after I last charted USO at the end of May. I drew a few trend lines then and as our (those who eat and drive) bad luck would have it, the shorter trend line of higher lows held support. That same line is still holding and the price of oil…