The heavily traded and much maligned United States Oil Fund LP (ETF) (NYSE: USO), which tracks West Texas Intermediate futures, is up 8.6 percent over the past five days, while U.S. benchmark crude for March delivery is higher by 9.4 percent over the same period.
Under any circumstances, those are noteworthy performances, but this time around, traders and investors should be giving oil and the related exchange-traded products closer examination. The reason: Big gains for oil in short time frames do not come around all the time, and when those gains do occur, the signs are usually positive.
What Do These Big Gains Mean?
“The S&P GSCI (WTI) Crude Oil posted a 3-day gain of 14.4 percent ending Feb. 17, 2016. This is the biggest 3-day ...
/www.benzinga.com/trading-ideas/long-ideas/16/02/6371527/the-bottom-might-be-in-for-oil-etfs alt=The Bottom Might Be In For Oil ETFs>Full story available on Benzinga.com
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