Oil seems to be making lower highs each intermediate cycle. It's about time for the current intermediate cycle to turn downwards.
It's rather close to recent highs so this offers a decent risk-reward for a short position.
Buying SCO here, stop @ at the 9/28 high of $52.60 in oil. In SCO this is tight, about $1 or 3% risk.
I don't really have a strong opinion about Oil. But if it's a bear market, this is a good entry.