Action In Crude Oil Is Painting A Bleak Picture (USO)

Investors had better be paying attention to the significant weakness in crude oil futures. During today's trading session, NYMEX crude futures have been slammed again, falling $1.22, or 1.67%, to $71.88.

The movement in the price of oil has been straight down since the beginning of August, when a barrel of crude was trading at around $83. The decline is reflecting intensifying concerns over the state of the economic recovery.

The United States Oil Fund ETF (NYSE: USO) has fallen almost 10% in just the last month, and has lost 1.39% to $31.98 today. If we don't see stabilization in the crude market soon, expect stocks to continue their swoon.

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