I posted this question in the Ask EJ select forum months ago, and have not received a direct response from EJ (In fact I have several questions outstanding that have gone unanswered for more than a year - So as a side note, if you're thinking about subscribing for the Ask EJ feature, don't).
At any rate, what I'm wondering is whether or not it's time to buy oil. EJ mentioned in one of his pieces that he was tracking USO and waiting for it to drop another 20% or so (when it was at about $32 per share). That 20% drop hasn't happened, so I'm wondering if now is the time to buy, despite the price being well above $32 per share.
Thoughts?
At any rate, what I'm wondering is whether or not it's time to buy oil. EJ mentioned in one of his pieces that he was tracking USO and waiting for it to drop another 20% or so (when it was at about $32 per share). That 20% drop hasn't happened, so I'm wondering if now is the time to buy, despite the price being well above $32 per share.
Thoughts?
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