ANOTHER Profunds debacle! Go back and take a look at Cramer's raving about the Chinese ultra actually losing money while that market was falling big time.
The "Spike the Dow" program traders have chosen XOM and CVX as their weapon of choice today. No way DUG goes up while they're playing.
FINALLY...a sensible comment here!
DUG doesn't track oil prices but the Dow Jones Oil & Gas index @ 2x. In effect your shorting these STOCKS not the commodity.
Exactly and don't forget ... it also tracks the storm conditions in select areas of New Jersey and a small village in southeastern Tibet. Demand, the economy, those are no longer factors.
Is there a symbol for that Dow Oil and Gas index?
you can't make any serious money here due to decay DUG can't go higher than $20.00 pps even if oil drops in half.
up 2.5% right at the open. Not great, but not exactly chicken feed. It isn't a long term hold, but you can hold these leveraged etf's for a run of any duration, as long as it lasts. The decay is in a choppy market. imho, pipe
this is a pos, look at djusen yesterday upside, and today movement downside. This is a pos.