ProShares Ultra Bloomberg Crude Oil 2X ETF (UCO)

[longymickshort]

Only thing holding oil in overbought territory is Saudi risk premium right now IMO. Dollar should rebound near term rising interest rates seasonal pressure rising rig counts and big net long hedge positions recovering refinery out put give further near term short bias for a swing trade lower here going short with 5% stops on the D Saudi extension of output cuts are priced in IMO . Will add incremental rising trailing stops to 3% on moves lower GLTA. Filled on the DW at 16.88 for 1 k shrs.