Once we take out 50, it's smooth sailing to 60, 80, 100, and eventually 1500 per barrel.
I am so confident I own a ton of the Jan 30 calls in UCO, bought for 45 cents and won't sell before 3, that's a nice 600% gain or so.
We're in a new world. Hedge funds don't care about fundamentals, they care about making money. If they need to pump oil to $60, 80, etc to make money, they will. Just follow the money. If the fundamentals mattered, oil would be in the upper 30s, so it's not hard to see that they don't matter.
I can see $100 within 12 months easily even if it crushes the world economy in the process.
60 is a given in the very, very immediate future (before the end of the summer). I don't know if we can get to $250 per barrel or not, but I am looking forward to watching.
This is such an easy trade. The fundamentals don't apply at all, oil is going higher. Hedge funds want to kill the consumer and the Fed wants to help banks with bad oil loans, so we could see 60, 80, 100 per barrel this year or more, much more!
I think $100 by December and $250 in 2018.
So they will continue forcing oil higher.
We got 60 bearskis! Bob tried to help you!
65 cents folks this is how the run to $3 begins. UCO just needs to hit 23-24.