I guess everybody now is bearish on oil. Technically the picture is also bearish however the way it looks and feels + Elliott Wave count make me suspect that oil is ready to rally in coming weeks. It is very difficult to profit from oil when it does these seesaw swings. In addition to longing futures I will be looking to buy RIG, APA and REI. They are volatile enough to give 50% I think if the oil price surges as expected.