Ultra DJ-AIG Crude Oil (NYSEMKT:UCO)

TSIF (99.95) Submitted: 6/21/2012 11:12:40 AM : Start Price: $24.80 UCO Score: +18.57

Light crude is pushing $80 per barrel, 52 week low was $78. Oil does typically move up with the market, so an upthumb on UCO is not as good of a CAPS play as a downthum on SCO or DTO. S&P moves up, UCO moves up, Contango pulls down...not quite as good, but overall there is a trading range on oil that is shored up by cost to produce and ability of producers to throttle. Upside also sometimes occurs due to world events. In general, playing that OIL will go up again above $80 is a no brainer, the question is when, whether contango kills this play, and if the pace gets ahead of the S&P. I'm slightly net negative right now and while the S&P may break resistance upward, it isn't likely to break up hard and downside is more likely.