It Has Come To Pass; Covered Half My UCO Short

You will recall if you please, some time ago when I said that if the Fed were to offer stimulus, it would most likely be a venture into Europe, providing liquidity to their banks so that they could further ease the Eurozone?

Today, that exact announcement has come out. The Fed, interested in further aiding the economy, will be providing stimulus. However, as I cautioned, their ability to impact our markets at home are greatly impaired by the current pricing valuations.

So they are attacking the problem at its heart.

In response, I have covered half of my UCO this morning, for $35.35, going into the open. I am not fucking around with this.

I will retain the other half of my UCO short, as the latest unemployment and manufacturing report was, succinctly, God awful.

We may see lower oil yet. However, a full scale crash is looking to be increasingly off the table. Brother Ben Bernanke came through, after all.