ProShares Ultra Bloomberg Crude Oil 2X ETF (UCO)

[Dio2000]

Hmmmm.....Manipulation and dilution happening....

[Dio2000]

And here comes the premarket nose dives right before the starting bell....UCO and USO look like OTC Turds to the max! Lol

[Smilin_B]

I believe it ran into the $3 range where i took profits from $1.80 entry then it fell to $1.30 pre RS where I got back in then i added several days post RS

Im up but think crude's going over $40/barrel and as long as people continue to want to TRAVEL and commute to work etc, crude should continue to grind higher, and along with it, UCO

[Dio2000]

Well That makes sense....before the Crash & RS, what was this trading at?

[Smilin_B]

Share structure was reduced by a factor of 25 as the PPS increases by that same factor

It's easy to push around

For the large institutions

[Dio2000]

Whats your price prediction for next upcoming Friday?

[Dio2000]

Is this a good thing or a bad thing?

[Dio2000]

In a nutshell this means...?

[Smilin_B]

The shares RS over a month ago and with that comes a share structure that is now 25X lower

Institutions are trading this

Note the volume of shares traded daily x the price per share

It's being accumulated by the heavy hitters

[Dio2000]

Opens @30.25 and closes @30.04 just because people want to walk it down not knowing it will spike during pre-trading hours and dio back down again during regular trading hours...the reasons why it stays down is because of these traders...

[Dio2000]

I’ve been watching this manipulation happen all day...

[Dio2000]

Do you think a RS with this ticker will work out in our favor or go against us share/price wise?

[Dio2000]

I see the dickheads are trying to hold it down so...we shall see where it goes from now...it says that markets are trading higher because of the prices of oil, and job loss declines.

[Dio2000]

Well...lets see what will happen

[Smilin_B]

UCO is about $1 away from pre RS levels

[Dio2000]

Well idk..all I know is I made money bro

[Smilin_B]

That's not my point at all.

UCO it's not trading the front-month contract

[Dio2000]

Yes I know what I own.....I been playing uco and uso since May...i know futures don’t follow the current prices....i’m learning as I go. What I can say is that I have made a lot of money on these 2 tickers

[Smilin_B]

I'm not really certain why you are laughing. Do you not even realize that this ETF does not trade the front-month contract of crude oil futures? You do know what you own right?

I suppose "lol" is just an easy way out of an intelligent discussion

[Dio2000]

Lol right

[Smilin_B]

lol just let the price of oil lead the way

[Dio2000]

This can easily hit $30.50 and close at $31.30....

[Dio2000]

This is Complete and utter manipulation....

[Dio2000]

Agreed

[Nichopm]

Hoping it can stay above $30 now...

[Smilin_B]

That depends on the forward roll of UCO's futures contracts, not Robinhood traders

[Dio2000]

Completely trading sideways....I have a trick for that though

[Dio2000]

Here we go with the amateur robinhood traders.....

[Dio2000]

Lots of resistance at 29.50, the question is....can this break $30 today?

[Smilin_B]

No

It is trending between $27 - $30

[Dio2000]

This ticker is all over the damn place

[Smilin_B]

UCO $32 resistance

[Taurus69]

$uco $27.21

[Dio2000]

Of course that was me being facetious lol

[Dio2000]

Todays trading sucked a bag of dix!

[Dio2000]

Why not retest the $28 resistance?

[Smilin_B]

Looking forward to the re-test of $32 resistance

[Smilin_B]

I think that's the big disparity and issue between these people that UCO was tracking the present front-month of crude oil. It no longer does

[Pandion]

All you have to do is scroll up to find this:

"Recent global developments affecting crude oil markets and crude oil futures contracts have dramatically increased volatility and even resulted in a negative price for the May 2020 WTI crude oil futures contract. As a result, investors in the oil funds may be subject to significant volatility and unexpected losses. In response to these conditions, each oil fund has modified certain of its investment strategies and the performance of each oil fund may differ from 2x or -2x, as applicable, of the daily performance of its benchmark. The fund does not track the spot price of WTI crude oil."

[dealerschool2006]

I don't know, google it, i don't have time for this analysis only know that UCO follows price of oil, that's the discriptive language of the ETF...2xs % rise or fall...

[Smilin_B]

Nor was the gap down based upon the price of oil. Where was the price of oil on the day UCO reverse split and opened? Where is the price of oil now? Pre-split UCO was $32/share at $20 crude.

Where is crude now?

What the price of UCO now?

Think...

[Smilin_B]

Completely incorrect. UCO is not Trading the front-month contract.

[dealerschool2006]

the gap down was based upon price of oil...gotta look up the exact date, then compare to oil the same date...it doesn't say 2xs % oil prices for nothing...UCO...

[Smilin_B]

Im going to take a guess that you dont recall where UCO closed pre split versus where it gapped DOWN to the following session.

[dealerschool2006]

UCO follows oil rise and decline %, any resistance is based upon that and not because of presplit pps...

[Paiidnfull38]

What’s the catalyst?

[Smilin_B]

We are approaching pre split levels so $32 should be resistance

[EquityMonster83]

Thanks. The estimate is helpful.

[Smilin_B]

Thats a difficult question to answer due to UCO's oil futures are not trading the front month contract, but are representative of August/September's contracts

But on a hard and fast answer is $62/barrel

[EquityMonster83]

What would crude have to be at for UCO to get to $50?