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Stock ETF: USO
Submitted by Jerry on November 4, 2006 - 11:22am.
Folks,
Earlier this year, a new Exchange-Traded Fund (ETF) that trades US oil came out. The ticker symbol is USO.
For anyone not familiar, an ETF can represent a commodity, mutual fund, an index, etc., but trades like an individual stock.
In this case it's oil, where each single share equals a barrel of oil. In other words, you're buying barrels of oil, minus all the complexities of futures contracts, options, etc.
I was very excited about this ETF earlier this year, because I normally only look at technical analysis, but my research into the fundamentals of global oil supply have given me a no-brainer for a buy-and-hold ETF.
Based on my technical analysis, something outside normal trading has pushed-down the price of oil (The mid-term elections, courtesy of the Bush's?)
In other words, look at the following chart, and tell me if you don't see the buying opportunity of our lifetimes.
The link is at the bottom of this webpage.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=uso&time=&freq
Jerry
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An alternative energy stock that may interest you
Jerry, in case you dont already know about this one, AltairNano (ALTI) with its new battery technology is poised for huge growth. It supplies the battery pack for the new Phoenix all-electric car www.phoenixmotorcars.com based in Ontario CA (privately held). ALTI is near its low right now. Let me know if you find out anything worth knowing about it!
Bill
ALTI
Bill,
Just brought-up my technical chart on ALTI. It just shot up today over 7%!
Does seem to be coming off of an an extremely oversold level on MACD (very accurate long-term predictive analytical tool)
On the Relative Strength Index (RSI), it seems to have stopped today at resistance at the 50-line. If it breaks above the 50-line on RSI, I'll be very interested.
Here's the link:
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=dba&time=&freq=
My rule has been to never again invest in companies, just the ETF's that trade the price of oil (USO), agriculture (just bought 270 shares of DBA today in a timed buy)and the new one for coal (KOL). Being a Peak Oiler, I'm now combining my fundamental knowledge of the last several years (wish I bought DBA a year ago when it was new. We new this was coming) with technical analysis I taught myself years ago by grabbing an armload of books on the subject from the public library.
Anyway, thanks for the tip. Price plays in indeces, ETF's, funds, etc. are more predictible than individual companies, so I wouldn't get my hopes up about ALTI, until it breaks through resistance. Besides, it trades below $5 a share, which isn't generally a good long-term sign. Also remember that in the long term, electric cars may not be the answer (due to having to expand the electrical grid, plus fossil fuel inputs to make them), although currently they are very viable as a commuting vehicle.
Again thanks,
Jerry Erwin