VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[kamakiri]

Been that way for months! Still decent volume considering.

[Makin Millions]

LOL OTC now?

[kamakiri]

Still decent OTC volume for UWTIF...not surprised here.

[Dave_Cash]

Where's the eia report? Website is down

[Dave_Cash]

Where's the wow report? website is down

[Mokyo Toe]

Circumstances have changed in the 2 years since I posted that. I am more inclined to short oil stocks right now. I'm mostly waiting to see how things shake out with the new administration coming in.

However, I would be tempted to go long on some offshore drilling stocks. Most offshore drillers have already pulled in their rigs, so although oil itself may remain cheap, a shortage of rigs will need to be addressed. A lot of these offshore drilling companies have spent the last two years cutting debt. I like RIG, DVN, MRO, DO, but I think they are currently overpriced due to a run in November. When they come down, I'll start nibbling at those.

[lab40]

Not gonna happen anytime soon!

[CountryMac1]

What are the better oil plays to make money on

[zedsdead]

Oil is going back to 40$ a barrel mininum, could go lower. There is a surplus of 3 billion barrels as of june of last year. They cut production a measly 1.7 million bpd in total. We have an overproduction of 1.5 mpd. If the US doesnt produce any more oil, and they keep these production cuts to a tee it will still take 41 years to remove the 3 billion barrels of oil at this current rate. They would have to halt production worldwide for at least a month to remove those 3 billion barrels. The glut is absurd. Do not count on oil going up, its only going to react positively to these production cuts for so long until investors realize how bad the glut really is.

[kamakiri]

Well, you sure nailed that prediction. Ironically, The biggest hits that I saw were the DWTI holders in early 2016. Same criminals, just different victims.

[Mokyo Toe]

Heheh... I sure nailed it in this March 27, 2015 post, as people posted how their $500 gambles would turn them into multi-millionaires by August. This ETF closed that day at $2.31 (about $231, adjusted post-splits) At issue were "decay" and "contango", two very real phenomena that investors in this junk didn't understand or chose to ignore, despite the efforts of some to explain them:

"This will never reach $30 again" (Yep, check)

"This will probably never see $4 again" (Yep, closest it ever got was $3.89)

"If oil bounces between $40 and $50 all summer, everyone on this forum will be underwater by the end of August." (Yep, understatement of the year. This was down to 74 cents by then)

"it might go sub-$1 and split" (Sure did, twice. Adjusting for the splits, this was worth 24 cents in the end)

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=112187617

I should have noted that delisting was the ultimate destination for this scam, but I figured I had already said enough.

My only reason to revisit this post now (I was reminded of this ETF this morning and looked it up to see whatever happened to it) is to point out that the guy who points out the fly in the ointment is never the popular guy on a forum. However, an investor who refuses to consider the flaws of his investment really is just a misguided gambler and not an investor at all.

[kamakiri]

Statistically, it's never far off. Consider how many bbl of crude are moved around the country. +/- single digit numbers are actually insignificant. Just little excuses for the big players to manipulate.

[kamakiri]

It's just the MM and Spec shorts doing what they do best. Tank prices when there's little reason to go down.

[AntiMarketMaker]

When API data is off the mark it is really off the mark.

[AntiMarketMaker]

The report not that bad for such sell off. The dollar even retreated.

[kamakiri]

Loading more UWT post report. UWTIF volume dropped off and trading at a big discount now.

[AntiMarketMaker]

I got a position earlier 24.89. Now let see if the dollar can slow down a bit.

[pleeb01]

Here is a reality based piece concerning rigs, shale and oil prices.
Goldman Is Wrong About Shale: Oil Price Spike By End 2017 Highly Likely $USO
http://www.seekingalpha.com/article/4030638

[AntiMarketMaker]

Iraq lready breaking the deal

[AntiMarketMaker]

Rig counts will be up

[purty lines]

Although I lost a bit, looks like I did the right thing getting out for the moment..

[AntiMarketMaker]

I switched side this morning weeeee. The dollar went on hulksmash mode.

[purty lines]

Crap. I'm out of UWT at 26.23.

[purty lines]

Back in uwt at 26.60...gotta watch it closely.

[BullishSwag]

I really hope they have a bearish triple come Q1 2017. DWTI was seriously one of my favorites. DWTIF volume is too low now.

[purty lines]

right now opec is not good for opec.

[AntiMarketMaker]

Got out just now with 1.3% loss. I will wit for dept of energy data and fed rate. Big supply and strong dollar not good news for wti and opec.

[purty lines]

yup, especially since uwt fell below my buy(support) price in premarket. Dropped low enough it may be getting close enough to buy again..haha

[AntiMarketMaker]

Every country still pumping. The D might be back in play

[Smittle]

Oil Falls As API Reports A Significant Build To Crude, Gasoline Inventories

By Zainab Calcuttawala - Dec 13, 2016, 4:30 PM CST

Oil prices fell on Tuesday after the American Petroleum Institute’s (API) weekly report showed a large build of 4.68 million barrels in the United States’ crude inventory levels, instead of the expected 1.5 million-barrel draw.

The build comes after last week’s report from the Energy Information Administration (EIA) that showed a 2.4 million barrel drop in commercial inventories the week prior.

Gasoline inventories have seen builds over the past five weeks, just as winter takes over and demand for the product declines. This time around, gasoline saw the biggest jump – 3.905 barrels - since January.

Crude levels at the Cushing, Oklahoma storage facility increased by 632,000 barrels – far lower than the 3.2 million barrel jump experts anticipated, according to Zero Hedge. Still, crude levels at the site have been on the up-and-up since October, and this week’s report continues the trend, with a monumental build of 4.01 million barrels as of last week’s report—the biggest weekly build since 2008, according to the agency.

This edition of API projections will either be confirmed or denied in tomorrow’s official EIA data. Since the last report, suspicions regarding the effectiveness of the OPEC deal have been dampened as Saudi Arabia, Iran and other partners affirmed their adherence to the quotas outlined in the agreement.

This Could Be The Biggest Winner From OPEC'S Production Cut

This small oil company has recently developed a technology that could completely transform the oil industry for the better.

Click here to read more

“There’s obvious optimism from the bulls on OPEC’s ability to come to an agreement with non-OPEC,” Paul Crovo, Philadelphia-based oil, equities analyst at PNC Capital, told ZH over the phone. “At the same time, there’s a reasonable level of trepidation” regarding supply response from U.S. shale

The price of WTI was down 0.83% to $52.39 a half hour after data release, while Brent traded down 0.88% at $55.20. Gasoline prices were down 0.85% to $1.5299.

By Zainab Calcuttawala for Oilprice.com

http://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Fall-As-API-Reports-A-Significant-Build-To-Crude-Gasoline-Inventorie.html

[AntiMarketMaker]

OPEC killing their own deal with their freaking pumping addiction.

[purty lines]

Thanks Swag. Looking to buy it again around 27.36 or higher from here if it breaks out of the channel its in.

[BullishSwag]

Nice trade

[toomuchmoney]

I think it is time to remove the sticky saying OIL is going back to $10, Peasodoe, would you please remove that

[purty lines]

Been buying some of the "new" U here. looks lower risk for me at this level.

[toomuchmoney]

yeah, OIL rise to the skies too fast, need to fillalittle

;O)

[AntiMarketMaker]

Lol good one.

My uwt stop got hit. 2% profitoh well

[toomuchmoney]

can I call you anti m for short, get it? lol

I will be here all week

;O)

take my wife, please!

[AntiMarketMaker]

OPEC cant even erect oil up for long lol. The market prepring for US drillers to pump the difference.

[purty lines]

UWT volume's not too bad...1.5 mil shares so far today.
Sold some erx this morning.

[toomuchmoney]

never say never, I can own several oil condos

[kamakiri]

I dunno.Still nothing better than UWTI(F) for me. We'll see if UWT fills its shoes.

No way I could have made this much in 2016 if I was still only using UCO.

[toomuchmoney]

the entire event was BS, I dont deal with BS so I bought a better OIL condo

;O)

[kamakiri]

Just a fraction of my 2016 profits,so no worries here.

I've traded through similar events in the past. Like I was saying, no need to panic. All those articles telling people to sell and warning of danger were just BS.

[toomuchmoney]

this why I exited, no desire to tie us cash or hold or struggle to exit,see how things evolve

[kamakiri]

Nobody else here holding the 'F'...

[kamakiri]

Great day to roll most of the remaining UWTIF!

[toomuchmoney]

no posts here? OIL made large move

[kamakiri]

$10. Right there.






Ooooops, wait. $54.

UWTIF
UWTI
UWT

[Lowjack]