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United States Oil (USO) Rally

May 09 2009

Oil Related Industries

The USO ETF tries to reflect the price movements of West Texas Intermediate light, sweet crude oil by investing in future contracts. Up 3.18% on Friday there could still be room to run with this ETF as the economy shows more signs of improvement. According to Prophet.net, industries related to oil have not moved higher with the crude oil prices. Over the past month, Major Integrated Oil/Gas is down over 6% while Oil and Gas Pipelines are down over 7% and Refining is down 10.38%.

The Trade

Crude inventories are to be released on May 13th at 10:30 am. If the inventory numbers are lower than expected, the USO will rally further. I think you can hold the USO on Monday and Tuesday and then repurchase on Wednesday if the inventory number is lower than expected.

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