Discussion in 'Stocks' started by jsv416, Oct 17, 2008.

  1. jsv416


    I have been averaging into this over the last couple of days as crude oil made new lows. Does anyone else feel that this is a no brainer to buy this ETF (crude oil double long) at these levels which coincides with oil in the $70 range. Even if it takes a year to pan out, there is no way in hell that oil will stay in the $65 to $70 range forever. The only way it goes lower is if there is actually a great worldwide depression and there is extensive demand destruction.
  2. S2007S


    Waiting for it to drop below $5.00 before buying, oil I believe will bottom somewhere between $40-$50.
  3. jsv416


    FWIW there is a RSI divergance on USO and DXO setting up.
  4. Does the attractiveness of DXO get better as it gets cheaper?

    I'm just asking because as a double long does the profitability potential not compound the closer it gets to zero?
  5. In short yes, as a smaller price change equals a larger percentage gain (or loss). IMO at this price it's worth it to throw a couple grand at it if you are long oil
  6. At $4.49 did you go long yet?
  7. lpchad


    Long at $4.75 - Targeting $10-12 by Spring
  8. S2007S


    Long at $2.50.
  9. How much?
    What is your total equity committed to this position and where is your stop-loss?