You are buying leveraged oil. If you think oil is going to go up in price, then this is a great play. If you think oil will go down in price, not a great idea. It has heavy oil composition and large debt. We are up to the resistance point right now. The seasonal period ends May 9th. Sell on strength.
Markets. We are entering a period of seasonal weakness. It is not a great economic back drop for investing. It will take a huge catalyst to move the markets higher. We are moving into 6 months that are typically weaker. The average is a loss of half a percent since 1950 in the summer. You tend to get some big drops in the summer sometimes, which brings the average down, even though the market is up over the summer 82% of the time. You are exposing yourself to increased risk over the next six months. There are lots of opportunities in the summer also. Gold tends to do better.