Anyone who knows what happens each summer knows well that people drive more and buy gasoline. Oil prices always go up during summer. Even when the economy sucks in general, most of us manage to save enough to get in a car, eat cheap food in fast food restaurants and diners, and stay in motels. Then you can simply check out lots of new places that do not have tickets that blow your budget.
So with the latest correction in the market and pressure on Euro, oil prices have dropped but I am expecting that they will go right back up in a matter of weeks.
So back to UCO, baby. I bought 200 shares of UCO at $11.63