Wow! My post was simply awful. The DUG broke down and the DIG broke up. It did look like there would be a breakdown on the XLE, but oil and everything related decided to pick up and leave the station today...
Ok lets get back on the topic of DUG. Just looked at the charts. The XLE retraced exactly to the trend line I drew. I'll throw up an updated chart. The trend line appears to be resistance, however, Im not going in until I have confirmation. This might be a good entry point for DUG, but Im going to wait for confirmation.
stock, for an "investor" you are awfully shortsighted...It seems you want to talk and act like a trader, but with your emotional issues, I don't think you would last a week.
Ive got charts of DUG and DIG, but basically they all track the XLE. You can see from my updated chart what happened. Also, you did request more color and thats what you got...
What is the relationship between oil price and stock indices? I have heard both sides. Oil up=Stocks down, Oil down=Stocks down "Stocks" is referring to the S&P 500, and the reasoning is that profits of oil companies goes down if oil price goes down, and 50% of S&P is oil related company. What do you think?