That's why I have been slowly adding energy short positions in the last 3 days....today bought DWTI and DRIP, buying another 1/3 position in ERY tomorrow if it opens down....
DWTI is doing awesome today.... Wonder if it closes in on $200+ tomorrow morning. I'm looking to sell at $200+ Missed on buying more ERY today but still got some at $23.75 the other day.
i bought uwti at $2.80 when oil was at $32 beginning of jan . Now its $2.50 and oil at $38 . Planned on keeping it till it hit $7 and dont mind keeping it till around aug . But at this rate for it to get to $7 oil would have to go to probably $70 which i dont think it will past $50 . I am a forex trader and had some cash paying 1% interest so i am not to familiar with etf . Any suggestions on why it lags the price of oil ?
%% Congrats, WatchD; its north @ $22.77+/. I think the bank[CS] split it today; good move.Wow CS has a dividend yield, i think of over 4%. I think it[UWTI] lags the price of oil, because of its named ''trend following'', not trend prediction. Another reason, is a strong trend can be real profitable; but a sideways slop-chop= sideways trend, can chop one to pieces in a cash account- how much more when its leveraged.Modern Trader magazine has a good oil[WTI-TX TEA] range forcast [NOT Prediction] of $27/+, thru $83+/ . Not a prediction, but thats an estimated HI-low for 2016.............................................
%% Watch D; Good thing about stock splits; one chicago trader said ..... 10 ones[10x $1.00=$10] seems so much more than> 1 $10 bill [$10,LOL] !! BUT in the case of big bank Citigroup, its NOT a laughing matter[$44.44 is really a penny stock priced-stock split @$ 4.44] NOT a prediction nor do i expect Citigroup to get that high today.LOL
Interesting here. I would think we could drop lower but as a long term un-leveraged investment, this is a buy here.