According to Bloomberg’s Eric Balchunas, over the last 18 months investors have lost over $24 billion trying to call a bottom in oil. In a very rare phenomenon, the outstanding shares in USO (Oil price ETF) hit a NEW HIGH as the price of USO hit a NEW LOW. “This is remarkable and underlines the importance of avoiding the weakest industry sectors” said Frank Beck, President of Beck Capital. (Image courtesy of Bloomberg)
