Replies to post #31473 on VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[Ican]

Here we go... finger on the trigger

[Tony888]

Short covering. Bad news creates the liquidity to cover. I think this is a calendar spread play to benefit from contango. Short the next month contract while covering the short on the current month contract. Rolling the short over.

[Jakeyoo]

Oil daily seems close with a doji again. If oil doesn't rally tomorrow, it actually forms a double top with Jan 29th. Let's see how this goes.