On To Other Things...At 2X oil really needed to explode just so we could make money over the effects of contango.
Now at 1X the futures wil have to flatten if not go backwardation in order to make money unless oil can move unbelievably fast.
If oil goes up 2-4%ish a day and slowely (2 months) gets back up to 20 then 25 then 30, there is a good chance HOU could still lose...