On April 11, we got our rock-solid, never-fail signal to short the oil market. Since then, every single trading day — nine consecutive as of this writing — have been black candlesticks, in spite of an (insane) mega-rally going on with other assets.
I think it was redvettes who brought my attention to the fact that besides the triple-bearish fund ERY (a favorite of mine, which I’ve written about often), there was also a fund called DRIP, which had broader coverage, less-focused on mega-caps like Exxon (NYSE:XOM). I was wondering if I was making a mistake sticking with ERY, but as the overlay below shows, they’re pretty much the same creature, and ERY’s volume is about twice as good, so I think I’m just going to stick to that instrument.
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