Today I sold my position in US Oil. (Ticker symbol USO) I had entered the position on December 9, 2009, and had planned to hold much longer through the inevitable back tracking. But the steepness of the recent sell off, which seems tied to the general market retreat looks dangerous. I decided to sell my position while I still had a small profit, and plan to re-enter when the current panic seems to have subsided, even if that is at higher prices. If the recovery continues I think higher oil prices are virtually certain, but there are a lot of traders in the oil market. They can push the price much more than changes in supply and demand would seem to warrant. So I think stepping to the sidelines at this point is a prudent choice.