Replies to post #19687 on VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[FreezeThese]

Poured some milk out for that call by GS... Fine line between bold and bologna, they hadn't covered slash hoped to stall/delay the recovery from the 30's. Lack of near-term catalysts I get but does every prediction have to be outlandish? It could channel the 40's until Spring

[tradewins3]

Great read........., thanks for taking the time

[CashFreeze]

Good points. Some other things....

OPEC and other oil dependent economies will never stop pumping. Oil is their business! They have to pump no matter what

It's becoming winter driving season, no matter how warm it is

US and China biggest consumers of oil, and China on verge of recession

Even if oil turns up, which it has, and will again.... The long range chart is going downward. If you don't think this CAN and WILL continue for YEARS, check out the Gold and Silver chart. Gold has been down for 3 years with blips of ups here and there.

Bottom line, trade swings but overall this has to hit rock bottom. It's all technicals, with logic sprinkled in