Supply isn't going down anytime soon, that much is obvious. Demand should be up by the end of summer, I am thinking. I am holding a handful of oil stocks and also GUSH. I look at the charts and I see room for improvement over the next week or so, as well as over the next two months, maybe more slow growth through the end of the year. The Saudis are beating themselves to death with overproduction. They tried that before and see where that got them. I wish I had bought GUSH at the end of March when it was under $13! My kindgom for a time machine!
You do know GUSH had a reverse split, that spike is not from the single digits...and now its a 2x etf and not a 3x.....
Looks like several reverse splits. Obviously it never traded at $75k+ LOL! So when was the latest? Yeah I noticed it is now 2x and I am kind of okay with that.
Last one was mid March 2020 after oil collapsed and this ETF fell extremely hard. Thats when they changed it from a 3x to a 2x, after all those extreme volatile days the markets had back during the selloff Speaking of GUSH I'm in DRIP now. Waiting for $6.00+ to sell and then slowly go into gush under $25.
In fact I just looked it up. https://www.splithistory.com/gush/ But you don't see it on the chart I look at. TradingView corrects for past splits and reverse splits so you see the price relative to current per share price. The CAGR history is interesting. Someone investing $10k in GUSH on 29 May 2015 would have $5.70 today. Sweet.
Yea the decay on these etfs is incredible. One day I think they will just stop issuing these investment vehicles and maybe eliminate them all together, which wouldn't be cool since they are fun to trade. Many many many of these funds have shut down due to not much interest. One I traded alot shut down recently, MIDZ. They still have TZA and SMDD so I trade those. But yes they arent for everyone. If you put TQQQ or SOXL over the last 5 years they have skyrocketed.
LOL if it goes under $42 I am bailing. But if GUSH goes below $25 I am loading the basket on the first uptick after the dip. If if if. I still think the trend is good for another day, and it will end up a real winner before the end of August.