What I'm looking for is cash flow from DWTI going into UWTI, since the smart money is realizing profits on DWTI, and it's going to be much harder to make the same range of profits at 300+ than switching to UWTI at less than 3.
>straight men actually turn pic related down
>you'd probably have to be gay to find her even slightly attractive
If oil wasn't in this consistent, downward trend, then yes. Yes you would get assraped. These 3x leveraged ETFs are not for buying and holding hoping for a change in the trend in the future. They're for taking advantage of the current trend, such as oil's current decline, and getting the fuck out quickly. The way these things track the market is wonky, so unless oil goes back up very soon and very dramatically, you'll never make back what you've lost the past two days.
Don't play with oil if you don't want to get burned
Honestly tho, if you really can't tell, set up some way to cut your losses. You and half of Wall Street might be in over your heads, but at least you can mitigate the damage.
Im still holding on.
The China news was swept under the rug due to latter news of oversupply in American oil, so I made a small profit in the end.
Im now hoping for the oil to drop below 30 and im gonna short the s&p.