I've recently taken up a long position in United States Oil (
USO) at $39.06 and have even purchased some out of the money calls for July 2012. I'm basically betting on the higher cost of oil as we bump up into the summer and trying to leverage the world-wide uncertainty and instability of the Middle East. The USO recently jumped up into the $41.00 range and I could have cashed for a small profit, but I'm looking for bigger gains. Maybe this will come back and bite me....time will tell.
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