Replies to post #364 on Citi VelocityShares 3x Long Crude Oil S&P ETN (UWT)

[nssrr5]

Good luck to you. My gut is telling me that Friday pullback was healthy and this is going to the upper teens short term


Great trading for you - congrats.

[fitzwell11]

Profits are profits, nothing wrong with that! I will be holding for a while unless the decay gets horrible, I frequently utilize USO options to hedge me on flipping UWT. The research I had utilized this summer led me to believe oil would fall from $77 to under $58, yet I took profits on DWT early and missed a substantial chunk of money. Now I believe crude will rise over $60 by Q2, and I don’t want to miss out again. In the end, I may end up in USO options as my timeline adjusts, if $WTIC doesn’t hit $60 until summer, UWT will be barely higher with contract rolls and dilution. I’d like to find a better leveraged instrument for this trade. Good luck to you, appreciate your insights here while people were panic selling in the $7s