and Yang. Since we all know the Bull is very, very long in the tooth and China (bubble) economy is ready to burst at any moment. Sleep tight Tvix longs.
Saudi Arabia, Russia said today they were prepared to push oil production to historic highs, just days after a global deal to freeze output levels collapsed and Saudi Arabia threatened to flood markets with more crude.
Venezuela predicted prices could crash in the next few weeks if producers failed to resume dialogue and urged that non-OPEC participants be observers at a June OPEC meeting, as the specter of oversupply loomed once more.
so maybe the tide turns tomorrow and market end down and Tvix Major Green.
bottom in here (I believe) so buy all you can. Once Kuwait starts pumping oil (full out) oil heads back to low $30's.
See you at $205 today - possibly lower.
Yep sometimes new blood and a change in scenery can improve the bottom line. As in Oil production might increase in Kuwait and National guard is cheaper to pay then striking union workers.
Need to hold to this puppy since oil sells off this week and most likely rest of month/May. Yes I could take a small profit today but I'd rather hold Dwit (long) and see it push towards $200 a share. We it make s a straight up, Nope but it will track higher every day this week so those who buy in now will be justly rewarded short term and very possibly long term.
Thanks for timeline. I see API and EIA reports pushing oil down with rig count flat to a 1 rig count drop. In any case the next few days should be good to short oil and make some moolah.
since we could very easily hit $10 a share before we ever go back up to $21.
I disagree since traders and market thought Opec would do a "Freeze Deal today". It was baked in and now everyone is "SHOCKED" the deal fell through. UCO will take a serious hit tomorrow as everyone sells their shares and swears to never go long oil again.
"Short" ETF's are going to fly through the roof tomorrow, especially Ery, Dwit and Drip. And the oil sell off won't end in a day or two. Nope - there will be a continual grind downward when oil will level off around $25 a share so buy Ery tomorrow and hold for the long ride UP
and who know we might just hit $20 at close since its now everyone for themselves as every country in the world with Oil - PUMPS TO THE MAX. Especially Iran, Saudi and Russia. But hey - where do you all store this stuff when storage tanks and tankers are overflowing???