VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[Sgreg]

I have to be honest with you and ask why not just wait a bit? Unless there are fundamental changes in the inventory reports or something crazy that happens in the world the next couple of days oil will probably head lower.

Roll also happens this week. I don't understand why people can't just sit on the sidelines for a couple of days. Momo was what was running oil and momo has left the building for now. Strong buying probably will not happen until oil has pulled back more. This "pullback" is only taking 1 days gains away so far. That really isn't much of a pullback yet, not what it could end up doing.

I think relaxing and sitting it out for a bit longer is the wiser move.