Crude Oil - - ProShares - ETF (NYSEARCA:UCO) -- Bi-Monthly Update
Crude Oil is very likely preparing for taking Short or Inverse ETF positions. Having completed my weekly study of all my High Profile Energy- Oil / Gas / O&G - Indices / Companies / ETFs. This is a study that always makes me smile because I have spent so many years in the study of Crude Oil / Energy and ETFs like (UCO). I love my work and have for many years.
My objective is to identify the ever-changing trends for my Forecasting Analytics. Simple stated, I want to have current notes to quickly refer to on the anticipated direction of this Sector and Industry Group.
This week's commentary on - Crude Oil - - ProShares - ETF (UCO) - covers all of my Indicators, both Fundamentally for Valuations and Technically for Momentum. There is much to cover to provide my best possible Forecast and Opinion.
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Forecast & Opinion from my Study / Analytics:
Crude Oil - - ProShares - ETF and other Energy - Oil / Gas Sector Companies and ETFs are tracking well. Although Crude Oil - - ProShares - ETF was in a strong Pull-Back however, it has rallied for the entire 2013 year. That could end soon. I said "could."
My Forecast for Crude Oil is not as bright as you may be lead to think!
If you own or are considering owning Energy - Oil / Gas Companies or ETFs, the securities are currently not very compelling to study at this time. Prudent investing supports having a long look and considering ownership in the coming months ahead. Crude Oil - - ProShares - ETF is currently Technically very strong, but it is too late to do any serious Buying. I have reservations about my very weak Fundamental Valuations. I placed it on an Initial Bearish Forecast - "Warning."
My Analytics (weighting) for my Fundamental Valuations play a vital role in profitable managing money. At this time my Valuations of (UCO) are becoming more positive than perhaps you are being told by other sources. Plainly stated they are - Doing Good!
My Opinion is to HOLD in anticipation taking profits from the positive price appreciation of late. I am suggesting that a meaningful Pull-Back may resume in the foreseeable future.
Fundamentally: My Analytics (weighting) for my Fundamental Valuation play a vital role in profitable managing money. At this time my Valuations for Crude Oil and Energy are not as positive at perhaps you are being told by other sources. Plainly stated they are Improving and then Descending again. Have a look at my recent Forecasts for Exxon Mobil and Chevron.
Technically: Even with this ETF, my Indicators are notably breaking down. It is only currently slightly off its highs of $40 selling for $35. The next rally is in place and any weakness will tell a compelling story as to the future direction of the price of (UCO). When (UCO) began trading in late 2008 it was selling for about $108 per share. The market has had incredible growth for the years since and this view of Crude Oil is not a pretty picture. Brent Crude Oil has performed much better but it too has not reached the highs of 2008. Something to ponder!
I will personally and promptly reply to any serious investor's inquiry as to my very cautious position for (UCO) !
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A Five Year Perspective of Crude Oil - - ProShares - ETF (UCO)
It has NOT always been like you are being told by so many who do not take the time to "Invest Wisely." Crude Oil - - ProShares - ETF (UCO) has taken some big hits over the few years it has existed.
My URL for (5-years of Crude Oil (West Texas Light Crude) tells the story well. Since inception for (UCO): http://stockcharts.com/h-sc/ui?s=UCO&p=W&yr=20&mn=0&dy=0&id=p32486721734&a=310617298
A Rather Unique Chart / Graphic on (UCO):
URL for this representation of - (UCO): http://stockcharts.com/h-sc/ui?s=UCO&p=W&yr=1&mn=6&dy=0&id=p47845177948&a=308051249
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Here are a number of the Component Companies / Peers in the Crude Oil Industry Group that I focus on rather frequently: UCO, OLO, XOM, CVX, BP, RDS.A, STO, TOT, YPF, E, BAK, SSL, PTR, PZE.
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