USO and UCO have really been beaten down these past two days, I'm numb to seeing -3%, -6%. I was just thinking earlier if geopolitical tensions might reverse oil prices, but then IEA poured cold water on expectations, inventories surged again, and market pressure is immense. Last year I was still dreaming that leverage like UCO could make a big play, but this time, going long overnight sent me back to square one. The oil market is truly treacherous; I really need to rein in the impulse. Short-term speculation is definitely not for the faint of heart.
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