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Forum - VelocityShares 3x Long Crude Oil ETN - UWTI   

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From: mykD (Rep: 15) reply to bucyrusDate: 11/07/2016 13:16
Forum: VelocityShares 3x Long Crude Oil ETN - Msg #433Thread #673882553 (Rec: 0)
Not at all. I knew we'd see these builds and I welcome them. It's giving us an entry opportunity. Right now I'm just waiting to see how the builds look this week and next. These builds are going to make the Saudis more "flexible" and the OPEC countries and Iran will eventually come together to support prices. THEN we'll have a REAL bounce. Iran isn't thinking about margins yet; they're just coming out of sanctions and need every dime they can get, so they're not going to cut output. I think these builds will lower prices and make a stronger case for OPEC et al to cut output because they know the demand isn't strong enough to soak up the supply. Once that deal gets DONE (and now we're another month closer) then we're off to the races. I think $40 is the bottom. Re: the huge build doesn't bother you?



...and I'm about to get money!


Reply to bucyrus - Msg #2644530 - 11/07/2016 12:55

Re: the huge build doesn't bother you?
What would you like to do? Message: Endorse | Bookmark | Report AbuseUser mykD: Reward | Watch | IgnoreUWTI: Ignore

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