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Energy Bears Fight Back

Published 05/15/2017, 03:16 PM
Updated 07/09/2023, 06:31 AM
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DBC
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As I type, oil is still up 2% on the front month, but it’s a far cry from Monday's open, when it was up almost twice that much. I took some nasty losses in shorts like XOP and DBC, along with a few energy positions. In hindsight, it would have been better to have had no stop prices at all. I'm pleased, however, that I didn’t sell a single share of my ERY long, and in fact I bought more shares, nearly doubling my position, early Monday at good prices. I’ve got a stop loss price of 11.50 (see tint) and the open price was the lowest we saw on Monday. It’s been fighting back every since, God bless it.

Direxion Daily Energy Bear 3X Shares

Latest comments

How's your ERY working out for you?
Oh poor Tim. Oil bottomed at $45-46 range, and is heading to $55. Rising rig count introduces rising drilling/fracking costs, the industry is increasing employment, the interests for loans are rising as well. How do producers handle these costs? RAISE PRICES is the only answer.
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