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Quoted from SilverballSleuth:Ridiculous questions - seeing oil close that far negative, not having really ever invested in the market before - is now a good time? How can I quickly buy while this far negative?
I have the same question. What exactly do I buy (USO?) and hold for a few years if I think oil will rebound to over $40/barrel?
Quoted from kpg:The reason oil went negative today is actually because of USO. Check out this article
https://www.forbes.com/sites/jimcollins/2020/04/20/the-us-oil-etf-uso-is-the-culprit-behind-oils-massive-plunge/
Notice the speculative part that says the Fed could start buying USO.. which is very possible. Don't fight the fed right?
Thanks for the article. Let me see if I understand. If I buy USO, it may go up (particularly if the Fed starts buying it) or down (if it dissolves for next to nothing like XIV. I could buy a short-term futures contract like the June 2020 contract at 22.36 or a longer-term contract like the May 2021 contract at $35.34. Or I could buy stock in small oil companies which could soon be BK or large oil companies like Chevron. Do I have any of that right?
Alternatively, since I live in Houston, I could just wait for real estate to crash and invest in a rental property. Another falling knife.
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