Peter Schiff has been pushing oil since last summer, seeing it as a hedge against inflation and good way to dodge the dollar, but it was only Friday that I jumped into USO (I think it's off about 1% from when I bought). I have a nasty habit of buying at peaks in the market and then panicking and selling on the first dip, only to see share prices soar a few days later, passing my original entry point. So this time, I'm in it to win it.
Here's a good summary of why I think oil, even at over $100 a barrel, is a sound investment. In short, despite what I think is an overheated Dow and S & P, and false positive American economy, I believe the next downturn might not mean a major drop in oil, and the upside is quite promising.
I'll let you know when I sell.
Sensible libertarian views on nearly everything- except foreign affairs.