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USO

$USO Pulls Back on Covid Surge, but this ain't AprilUSO is likely now subject to "fast-money shorting" as a widespread factor in the action. We all saw oil was the hardest hit by the first wave of lockdowns, going to -$40/bbl into May expirations. But the USO etf restructured to reduce impact on the curve, allowing delivery, and a ton of wells shuttered. Add to that the fact that we probably aren't going to shut back down across the country. This could be building into a pullback long opp on any further serious cuts.
AMEX:USO
by GregFolin
🤔 Keep An Eye On Oil. (USO)💰 LET'S GET INTO SOME OIL ANALYSIS!💰 1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤ (Overall Market Sentiment) 🐻 Bearish - 3day Chart - Doji Compression - 3/3 EMA DOTS Red Potential double top as oil takes a 5% hit today. Take entry based off indicators and add the breakout on the range drawn for extra confirmation on trend. Best of luck to you and all of your trades this week! 🤜 Drop your charts and comments down below, share with us what you think is going on in the markets! ❤❤❤ Thanks for checking out our analysis! ✌😁✌ 🥇MLT | MAJOR LEAGUE TRADER
AMEX:USO
by UnknownUnicorn2319099
3
USO ETF Resumes Trading Oil Futures - 155% Price IncreaseFollowing temporary suspension of trading new oil futures contracts for all institutional and private customers by USO's broker RBC, USO has secured a second broker, RCG, to allow the trading of new oil futures contracts by USO , effective May 29, 2020. In addition to the buying and selling of new oil futures contracts under RCG, USO still maintains full rollover capabilities of preexisting oil futures contracts, prior to May 23, 2020, maintained, and brokered, under RBC . From the market low of $16.88 on April 28, 2020, USO has seen a 155% increase on price, as of June 2, 2020. With economic recovery, and an increased demand for oil , poised to dominate the summer season, outlooks for holders of USO ETF are promising.
AMEX:USO
by JeremyTrades
Welp. USO got permabanned from trading Oil.Extremely popular ETF among retail investors United States Oil Fund got banned from trading Oil. Less than 1 month after a 1 to 8 reverse split. The number of holders on Robinhood, a popular broker among retail investors, has been going up despite all the negative news. Actually it has been going up more the more negative news there have been. How to write about this without looking sarcastic or making it look like a parody? I assure you all I am writting is true. With Oil prices crashing the ETF saw about 2 months ago a massive influx of investors and hit their limit. They have responded (after losing alot of their investors money and getting limited by the CME & regulators) by spreading their positions over several months. On April 29th they did a, 8 to 1 reverse split to not get delisted. The price has kept going up since then, perhaps because of all the investors with less than 8 shares that bought back in. According to a Thursday SEC filing made by the ETF, RBC Capital Markets, their broker, has informed the fund running USO that they could no longer buy oil futures and not even hold oil positions. USO response has been to say they may hold larger amounts of cash & cash equivalents and treasuries (zero or even negative yielding US treasuries). RBC reason is speaking in layman terms to not end up like Lehman Brothers. Despite being down 75% YTD USO AUM have quadrupled (and would have done more than this had they not hit the limit). ycharts.com RobinTrack data shows that the number of accounts holding USO has soared by about 2000% since March. So... if they are at the limit, they money they lose can be replenished by new buyers and they can remain at the upper limit forever? (As long as new buyers join). They might have to redesign their offer, since they cannot hold oil anymore. I guess they're just going to hold "investors" money in cash & bonds while collecting fees. Let's see what the regulators say. People wanted to buy Oil but we all know they just want to buy something deep in the red and even if the ETF changes they are not going to sell because they enjoy holding losers. They might even be interested to buy more. Seriously. The keyword is "emotional" but better than this would be "irrational" and even better - I have to - is my own description "complete morons". Of course technical analysts do not need to read the news and knew all of this before it even happened thanks to their magical little oscillators and tools. Retail investors are unphased and ignoring this "FUD". I expect them to buy more, probably expecting an investment in their own money at a fee to magically go up. When I'm doing my research I'm angry and ranting half of the time but also I'm just laughing in front of my screen half of the time. I love my 'job'.
AMEX:USO
by MrRenev
31