Replies to post #4790 on ProShares Ultra Bloomberg Crude Oil 2X ETF (UCO)

[longymickshort]

IDK thinking lower first.. im in the d right now maybe too soon but oil still overbought after that flag pole run. Some supply coming back from Libya soon and the Brent issues should also be resolved next week or so. That said Im thinking Brent will put some downward pressure on WTI in the short term as the spread between Brent and WTI tightens again will see dollar pretty weak is a concern short side. Green is my favorite color indeed protecting capital as always so important especially in the oil patch probably some bigger macro and geo political risks coming in 18 could be quite volatile this year which will make trading oil much more fun (for me anyway) always ready to jump ship im using tighter stops on the short side as we most likely will test some lower support levels when normal volume returns. All JMO GL

[longymickshort]

Very nice call there pleebs you called it right. Was a little early to the dump still think its gonna roll over holding on the short side if all stays fairly quiet in the middle east profit taking eod Friday may continue. Brent should slide a couple dollars bbl. at least IMO on supply side news and the return of capacity ramping back up in Libya.
Still have the Venezuelan problem and weak dollar as a threat to the short side. Good news on either of those issues would be double down short all things being equal. Great year for UCO Bulls !! Congrats and Happy New Year.