Citi VelocityShares 3x Long Crude Oil S&P ETN (UWT)

[Sgreg]

The narrative the media is putting out is simply supply/demand is the reason for the fall. What they don't mention is that inventory levels are the same now as they were a year ago today. It is down because the fat cats decided to short. The media spent know anything. They go ask the fat cats why its down and the fat cats tell them what they want reported. Then reports come out about demand decreasing which is false. Inventories at a glut which is false etc etc. These inventory level right now a year ago they said was somewhat short on supply, now its a glut. Anyway I think Trump said he wanted $49 oil so maybe that's what the whales set their algorithims to go.Year over year fundamentals as far as pure supply/demand haven't changed much. Only the narrative has.