Proshares 2x Short Oil ETF (SCO)

[chromaticity]

Jun futures contract expiry day is today. There are still 23K contracts are not settled. See what's going to happen today. I believe today is the pivot point. Buying many shares of SCO this morning already got some profit. Will sell them tomorrow or the day after tomorrow.

[JohnCM]

Same here. Thru the end of the month. NRGU.

[fitzwell11]

Loading more shares..

[JohnCM]

CRUDE OIL (WTI) ENERGY LEVERAGE BULL 2X 3X

ERX DIREXION ENERY BULL (3X)
NRGU MICROSECTORS US BIG OIL INDEX ETN (3X)
NRGO MICROSECTORS US BIG OIL INDEX ETN (2X)
UCO PROSHARES ULTRA BLOOMBERG CRUDE OIL (2X) (split 1 for 25)
GUSH DIREXION S&P OIL AND GAS EXPLORATION BULL (2X)
DIG PROSHARES ULTRA OIL AND GAS ETF (2X)

OIL (BULL**)

USO United States Oil Fund ETP**
UWT VelocityShares 3x Long Crude Oil ETN CLOSING ELECTIVE ACCELERATION
UCO ProShares Ultra Bloomberg Crude Oil**
DBO Invesco DB Oil Fund**
DWT VelocityShares 3x Inverse Crude Oil ETN CLOSING ELECTIVE ACCELERATION
OILU ProShares UltraPro 3x Crude Oil ETF CLOSING UNSPECIFIED REASON
OIL iPath Series B S&P**
SCO ProShares UltraShort Bloomberg Crude Oil
USL United States 12 Month Oil Fund**
OILD ProShares UltraPro 3x Short Crude Oil ETF CLOSING UNSPECIFIED REASON
DTO DB Crude Oil Double Short ETN
OILK ProShares K-1 Free Crude Oil Strategy ETF**
WTID ProShares Daily 3x Inverse Crude ETN DEFUNCT 03/24/2020
DWTI VelocityShares 3x Inverse Crude ETN DELISTED
OILX ETRACS S&P Crude Oil ETN**
OLEM iPath Pure Beta Crude Oil ETN**
WTIU ETRACS Proshares 3X Long Crude ETN CLOSING ELECTIVE ACCELERATION
NRGO Microsectors 2X U.S.Crude Oil**
NRGU Microsectors 3X U.S.Crude Oil**
UWTIF VelocityShares 3x Long Crude Oil ETN Linked to the S&P GSCI® Crude Oil Index ** CLOSING

[Sean Portman]

Awesome thank you. I was thinking about some calls here for a week out

[JohnCM]

I understand and knew what you meant. These ETFs can act strange at times and have a delayed reaction. If you are short CRUDE you have 20 days left to cash in.

[Sean Portman]

I meant for just Friday. I didn’t see that much oil pricing change in one day. But then again still learning here. More than happy to be corrected. Rather win than be right. Just seemed a much bigger move vs the oil price change for 1 day. Or did I miss something?

[JohnCM]

Uhmmm.

2X

WTI from 0.00 to 20.00

[JohnCM]

What?

[Sean Portman]

What happened to make this decline so much? Oil isn’t up much that I can see

[luckydude777]

Fingers crossed for you.

[fitzwell11]

Loading more here

[luckydude777]

Bought UCO long. Paid TOO much!

[surf1944]

Covered short position!

[zen222]

That oil bounce was too much too fast. Already started to retrace.

[nssrr5]

It funny that this is what I sold to get the rest of my UGAZ this morning. I bought this yesterday at the close for a nice little flip.

GL Fitzwell

[fitzwell11]

Adding here

[nssrr5]

I wish I had bought more at the close - had very little powder.

[luckydude777]

Appears you might have been very right. UCO puking.

[totffe]

Crude inventory will be released tomorrow at 10:30 AM EDT. If they are max'd then this will soar. And versa vysa.

[nssrr5]

Haha

[luckydude777]

I'll be monitoring ... (at 6 feet away of course).

[nssrr5]

This will pop back tomorrow

[luckydude777]

I now firmly believe, after the mid-day takedown of SCO, that the Fed is making CERTAIN oil futures are going to steadily keep rising.

AND?????????????????????????

And using short oil ETF's is much too unpredictable (risky) for the foreseeable future.

I'm in no way suggesting a person go long oil ETF's, but I AM advocating that shorting is much too risky. The Fed has unlimited digital dollars to push oil futures higher ... even when oil isn't worth a plug nickle on the open market.

[totffe]

Are you asking why it is ONLY down 6%? Given the sharp rise in near term crude contracts, it should be down 15%, so I am thinking that this small loss means SCO is looking out to August contracts, which are only up a little bit,

[zen222]

Brent up 12% and Light Sweet Crude up 26%.

[zsvq1p]

Why is SCO down 6%? Any guesses?

[zen222]

Crude will blow though zero faster than last time at this pace. Hee-hee!

[totffe]

WTI June futures headed lower. Could be another oil blood bath tomorrow

[zsvq1p]

This won’t surprise me if it does...

[totffe]

June contract is likely to go negative. SCO will go to 100 at least. I have no idea when the equity markets will get bullish, but I do know that oil is going on down and there is easy money to be made in ETF's like this one. A rare opportunity here.

[surf1944]

Just went short on SCO again!

[zen222]

Oil futures:

Weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee!!!

[totffe]

Ain't that the truth. I see prices continuing to fall, sporadically, and riding this each time. Could go on until July. GL

[zen222]

It's weird more folks aren't talking about SCO.

This baby has been a golden goose ATM. C'mon in, the water's fine.

[totffe]

I think we see a renewal of downward pressure on oil prices next week. Futures after June are all red for almost 2 years. Lots of negative sentiment. Load up here. I am holding over the week end

[totffe]

Don't fall for this little oil rally. Nothing fundamental to support it. Crude will soon resume its downward trend

[zsvq1p]

Super! Congratulations

[surf1944]

$8/share trade profit on SCO, covered short position!

[zsvq1p]

I wonder what would happen if you short both the SCO and UCO. Same amount.. what it would look like after interest payments. Since in the long run both of these lose long.

[surf1944]

SCO more profitable to short the short OIL funds!

[JohnCM]

That's right. Tippy toes. Slow and easy. I just see a pickup in demand in June which might give me CRUDE $25.00

I will be using leverage of 2X. If I have to apply that to an increase in CRUDE of only 30%, so be it.

Maybe a reach.

I am not looking to "hold" an ETF or ETN.

$30.00 crude 2 years out seems a bit conservative. I believe $40 to $45 is the sweet spot for everyone concerned.

[totffe]

Don't commit yourself too soon. Lots of unknowns out there. Demand might be a year returning. WTI futures 2 years out are mid 30's

[JohnCM]

When the Bear turns Bull

Last 2 weeks in May. That is when I will finish my buying.

Week of Apr 20 start small position
Week of Apr 27 continue total 1/6th
Week of May 4th at least 1/3 position
Week of May 11th major purchase 30%
Week of May 18th major purchase 30%
Week of May 25th finish purchase 6%

NRGU 3X 50%
UCO 2X 25%
ERX 2X 25%

2.5X

Conservatively WTI $15.00 to $25.00 Selling week of June 1st.

40% X 2.5X gives you a double (bagger).

[ClayTrader]

* * $SCO Video Chart 04-21-2020 * *

Link to Video - click here to watch the technical chart video

[totffe]

WTI oil price forecast for tomorrow, this week and month
Oil Price Forecast By Day
Date Weekday Low High Price
04/22 Wednesday 19.76 20.36 20.06
04/23 Thursday 18.77 19.35 19.06
04/24 Friday 18.40 18.96 18.68
04/27 Monday 17.81 18.35 18.08
04/28 Tuesday 16.92 17.44 17.18
04/29 Wednesday 16.36 16.86 16.61
04/30 Thursday 16.36 16.86 16.61
05/01 Friday 15.54 16.02 15.78
05/04 Monday 16.32 16.82 16.57
05/05 Tuesday 15.50 15.98 15.74
05/06 Wednesday 14.73 15.17 14.95
05/07 Thursday 15.46 15.94 15.70
05/08 Friday 16.24 16.74 16.49
05/11 Monday 17.05 17.57 17.31
05/12 Tuesday 16.90 17.42 17.16
05/13 Wednesday 16.06 16.54 16.30
05/14 Thursday 15.26 15.72 15.49
05/15 Friday 14.55 14.99 14.77
05/18 Monday 14.54 14.98 14.76
05/19 Tuesday 14.87 15.33 15.10
05/20 Wednesday 14.96 15.42 15.19
05/21 Thursday 14.21 14.65 14.43
05/22 Friday 14.92 15.38 15.15
05/25 Monday 14.17 14.61 14.39

[totffe]

Wow, what a ride. All the way to $65 and now back down to $50. The rest of the week should be crazy.

[BrophInvest]

Nope.

[TruckingAngler]

Did SCO reverse split?

[zsvq1p]

Me too... sold too early at 33... I had 1000 shares!