Replies to post #37389 on VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[G3TCRUNK3R]

I've said it before and I'll say it again.
If you trade 3x leveraged ETNs on technicals solely, you're gonna have a bad time.

Besides, if you think the real world doesn't affect oil prices and somehow the crash from 100 a barrel to 20 something a barrel then back up to 50 a barrel was all just trading algorithms and based of technical indicators you're insane and shouldn't be trusted.

[kamakiri]

I like charts for reading price action. But without the right fundamentals and trading ability, I still see it as a recipe for disaster. Not sure why you care to hang your hat on the $48 level over/under. BFD.