ProShares Ultra Bloomberg Crude Oil 2X ETF (UCO)

[kiy]

My mind is to little to trade/or worry according to Contango...I'm short term.
Reverse split justs takes the little guy out of the trade if they are just trying to build some trading capital...

http://www.etftrends.com/2015/01/positioning-for-an-oil-etf-rebound-watch-for-contango/
Short term swing trades and be out of you position the week the front month expires...take profit and buy a one step out of the money option with profit...if you want to stay long and the daily CCI 20 bias still points UP...
With a set of doubleBollinger Bands 1 standard deviation and 2 stnd deviation...if price is above the one deviation band I'd take profits and wait for month rollover...and try to start over with a price drawback...
The problem here isn't contango...its I can't get a trade where price stays above the 10 day moving average longer than one day for the last 4 to five months...I've made more than my share of attempts to catch a move higher and they keep failing...
Enjoy...
Good trades...