anyone interested in the proshares Ultra bull and Ultra Bear oil and gas should take a look at DIG and DUG DIG is the ultrabull DUG is the ultrabear Im thinking DUG is headed back to 40+ oil looks like its getting a bit ahead of itself, think its ready for a slight pullback before moving higher again, think oil trades back to 85 within the next week or two.
S This DUG was brought to me last week by a broker. I guess as a short> DUG's chart makes little sense to me, it bets on oil going down? ~ stoney
not really oil going down, but the oil stocks itself, compare it on a chart with OIH and see the difference, it had an awesome jump today just as I predicted it would on Thursday. I mean usually when oil falls most oil and energy stocks will follow, DUG is more of play that shorts the basket of oil and energy stocks. Compare XLE, OIH, PXJ and DUG. Notice the difference....
Usually its the other way around actually. The OSX normally starts a harsh decline just before Crude begins to selloff...