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Direxion Daily Energy Bull 3X ETF Message Board

  • stckmkt1 stckmkt1 Dec 3, 2008 8:34 AM Flag

    according to my charts and others, oil will bottom

    on tuesday...then we are off to the races.
    Probably 3+ months...so hang tight if your
    long...

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    • Now that i have your attention, ignore the $15 comment. I've been trading the ERY the past 7-8 days and done well. It looks to me that ERX is building a base, but here is my concern, If any of you know what the $BPENER is (bullish percentages energy sector) you should know that when it moves about 80 that is a signal to start selling, we are over 80 now. That is a huge concern for me at the moment, i realize it can stay over 80 for weeks and months, but if OPEC plus Russia make a statement this week-end about cutting production it's a catch 22, I've read the supply issues which would normally be bullish and I'm seeing that volume on ERX has been 2x that of ERY, am i missing anything?

 
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