USO

As for USO we have a decent move down today which was not unexpected, the update on Thursday last week ended with this:

I still believe there's a decent probability that this will still be the zone in which they try to accumulate shares of USO, we're seeing a little pullback right now. This is why I said yesterday to start building a position if you like the USO trade idea."

So I can't say I'm surprised, I also warned I didn't think they accumulated a position as big as they'd like and there would be more games ahead. So we'll keep an eye on USO for accumulation to start as it will probably be a decent area to continue building a position if it's a trade you like.