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.....
Watch for the break below $50, oil numbers out tomorrow morning will make oil extremely volatile, looking for another 5% move again tomorrow
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
Nearly every single day there is an article that oil has bottomed and that its heading higher and then there are articles that oil is headed to 20-30 a barrel.... This was from Monday http://www.cnbc.com/id/102409903 Says oil has bottomed
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!