VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[future1]

Your argument about US shale drillers going bankrupt doesn't make sense to me. I think the Saudis by now know the price at which US shale companies become active. Their only goal now should be to maximize profits just below that number. Any US shale operation that does go bankrupt will simply be bought out by one of the bigger players that can hold those wells as long as they need to. Just a balance sheet entry for them.

If US shale becomes active at $40 the price should be kept at $38-$39 with short term moves into the low $40s. That would maximize their profit without giving US shale much opportunity to start up again.