UWTI: ETF for oil

As long as you don't think oil prices can drop an additional 30%, you should be fine with holding it longer. On the other side your investment might not paying off but your gas is cheaper in your car...
 
OK, for fun, let's say I invest here at 3.37$ in UWTI and my prediction is that I can cash out with a 100% gain in the this year.....
 
S2007S said:
Gartmans calls are usually off, but in the last 2 days there have been predictions for $20 oil, how true this is I don't know, I just find it amusing that everyone is predicting lower oil prices after the fact oil is down over 50% from its highs. There wasn't one prediction of $50 oil when it was trading between $80-$100; a barrel, does oil drop another 50%, hard to tell, if there is another financial collapse coming then yes $20 is certainly coming, are lows in the 40's coming back, I think yes to that one as well, at least an 80% chance we see oil back at 2015 lows.

$20 oil 'is still possible': Gartman
Holly Ellyatt | @HollyEllyatt
2 Hours AgoCNBC.com

COMMENTSCNBC's "Worldwide Exchange" Tuesday.

"We've seen the market continue to have a large contango (where people are willing to pay more for a commodity at some point in the future than the actual expected price of the commodity) and crude continues to bid for storage," Gartman said.

Gartman illustrated his point with a reference to the oil storage hub in Cushing in Oklahoma where an estimated 2.3 million barrels of oil is stored in tanks, according to oil service company Genscape, and "huge numbers of ships out on the water" also being used to stockpile oil.

"In that environment it's very hard to think that this is anything more than a much-needed technical bounce and any further $1 or $2 rally in crude oil probably should be sold. I think the lows have not yet been seen and maybe $20 a barrel is still possible."

Gartman's comments come after Citigroup published a report on Monday stating that oil prices – which have fallen 50 percent from around $114 per barrel last June to currently trade around $57 – could fall as low as $20 per barrel .

"It's impossible to call a bottom point, which could, as a result of oversupply and the economics of storage, fall well below $40 a barrel for WTI, perhaps as low as the $20 range for a while," Citi's head of global commodities research Edward Morse said in the report Monday. "The recent rally in crude prices looks more like a head-fake than a sustainable turning point."

The comments come amid a number of reports that signal a slow recovery in oil markets. On Tuesday, the International Energy Agency said that while the rebound in prices of late showed there was "light at the end of the tunnel," it "could take years" for the market to rebalance.

- By CNBC's Holly Ellyatt,
More...

Do you really trade according to CNBC?
 
Watch for the break below $50, oil numbers out tomorrow morning will make oil extremely volatile, looking for another 5% move again tomorrow
 
Pekelo said:
OK, for fun, let's say I invest here at 3.37$ in UWTI and my prediction is that I can cash out with a 100% gain in the this year.....
More...


I say more oil downside coming but if you average in and hold tight I think $6-$7 is very possible, tomorrow UWTI will either be back above $4 or under $3
 
Most of all, I really appreciate all the comments and opinions. It mean a lot to me since it was my first post.

Recently, I see more and more articles suggesting further decline in oil price in numerous places. Just like everyone else here, I don't believe the predictions made by CNBC, but those suggested by Citi certainly have to be counted, I guess. In a way, it is definitely plausible--as long as the production continues the current level without increase in demand--to confront with $20-30 price range in near future.

However, I still predict that the price won't drop additional 20% - 30%. Seriously, are we going to see it going below $30? I doubt that, really much.
 
Wow....oil numbers this morning...huge wow


Just got a 1/5 of a position in UWTI AT $2.92

Buying next shares at $2.50 and the rest under $2 if it gets there...
 
UWTI is trading very well today, up to $3.45 after dipping below $3.00 yesterday, might take profits but at the same time $52 oil is possible tomorrow!
 
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