Buying oil - USO

You may have noticed that oil is now below $56/barrel. You may also recall that I advised to buy USO back when it was in the $52-$54 range. Now that it's fallen to below $48, I'll advise to sell and get out of oil completely.

Just kidding!

Despite the warm winter, higher supplies, lack of hurricanes, etc. that has temporarily brought down the price of oil, nothing has fundamenally changed. I think now might be the best time to buy oil (and oil stocks) that we'll have moving forward. Please consider tightening your belt and investing your extra pennies into oil.

oh BTW I believe it's been acknowledged that production for 2006 is below the 2005 level, although I couldn't find "official" confirmation of this.