ProShares Ultra Bloomberg Crude Oil 2X ETF (UCO)

[Smilin_B]

Yes i have.

The USO, by Design, is the capture the short-term price action of crude but at a leverage of 2X the return of /CLK20

There are several factors in play this week that will decide the short-term fate of WTI crude.

The economic stimulus package anticipated approval is what caused the consolidation and up move on crude Monday.

The 1 Trillion dollar printing press infusion is of course going to devalue the dollar and because the dollar will be worth less. Crude oil is priced in dollars. That means it would take more dollars to purchase crude oil, hence the increase in crude prices over the very short-term.

But what I think is ultimately going to happen due to the global and International oversupply and catastrophic under demand of crude oil, gasoline, jet fuel - that the commodity will backward out of this short-term price increase and continue to sell down below $20 a barrel.

In my opinion