USO

Yesterday, 6.6.08, I bought 18 shares of USO @ $112.46. After a long rest, crude oil finally rose to its feet. We'll see if it has any left in the tank. I'm also keeping a close eye on UGA. One analyst from Morgan Stanley issued a prediction for crude oil to reach $150 a barrel. Right now it looks like the question is just a matter of time.
The reason for the $10 a barrel jump in the price of crude yesterday was mainly due to the geo-political factors between Israel and Iran. Iran is working on developing their nuclear weapons, and Israel said that if they don't shut down all nuclear operations that they will pursue military action. If Israel blocks the Strait of Hormuz then we could see oil prices skyrocket. 25% of our oil comes through this Strait. If that happens then crude oil prices could go upwards of $250.