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Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares (DRIP)

NYSE
Currency in USD
Disclaimer
9.020
+0.090(+1.01%)
Closed
After Hours
9.040+0.020(+0.222%)

DRIP Comments

If anyone is here thinking that the price of oil is going to drop and this is the way to profit on that, understand that DRIP is about the producers, not the price of oil (CL).
The DRIP price should follow 2 times the inverse of XOP, which is the SPDR S&P Oil & Gas Exploration & Production ETF.  XOP is up today, but not sure why.  Maybe there is something brewing with some kind of government loan/grant.
this stock dont make sense oil crashes but this down crashing too
Yes it's playing itself right now get sco and dto instead I went up 45% last night
 no this tracks oil producing companies in the US. basically the worse the outlook for these companies, the better it is for DRIP. unfortunately i think it has already been priced in that these companies are in massive trouble so this will not be moving up anytime soon until at least quarterly reporting time.
 what is the outlook for DTO?
Wait...split that's why nevermind
The 12th March 2020 high on this chart can't by accurate, right? Every other chart I have peaks it at around 58.48.
think i am gonna stop tracking this one. xop should not be dropping much more on oil news anymore. the only things that could move this would be the equity portion, for which there could be better plays
top few components of xop is estimated to report in late April-early may. think this still has some room to drop
wow imagine if it was 3x leverage, this would be about -30% now.  revising target to about 7.5 or so for entry, which will be about 90 bucks pre-split.
exited yesterday at 22, recognizing my loss from 39.10. target re-entry in the 10s.
I never sell anything at a loss. You should have held it yikes.
I never sell anything at a loss. You should have held it yikes.
I seriously doubt it will recover 100% to reach 39.10. I will enter it again at the low 10s maybe by next week
what a plunge and what a recovery. almost had a heart attack
 is that what the massive drop on 3/27 was?
no that massive drop was a reverse stock split. basically they divide the price of the share by 12. however, in return you get 12x more shares.  the change in leverage I think was because Dirextion is no longer able to properly manage this fund at 3x due to the extreme volatility in the market. the NAV and share price diverged massively I think in the 16th March which shouldn't have happened in a properly managed fund. This led to huge losses for investors who got in late when they finally equalized the fund
they had to they banning all 3× most of them
remember when putin said he will support opec cuts. well it is exactly the same
I'll bought this at 21.95 yesterday lol hope it shoots for the moon.
Anyone watch the presidential update where trump mentions a bid of $9 per barrel oil will get it since there's soo much supply and tankers need to unload the oil?  Did he just slip up and share his phone discussion on how low oil will go between Putin/Saudi Arabia/US?
need a 32.6 to break even :(
Why is this stock down 90%
I think it went through a 4 for 1 split
12 for 1 split
stuck at 391. i have no more feelings on ups and downs of 10% anymore
:( what sould we do now
 i really dont know man. part of my is saying to wait for jobs report next week. not sure if it will ever hit 600 again though
and.... market going up after 3 million unemployment.
not good to be in dripland now. governments are doing everything to push the market up.
News just released US talking with OPEC.  Seems the US may join opec to stabilize prices which may cause alot of Oil contract buys.  Seems it's going to go up thru out the day but scary to hold thru the weekend.
try to get out of drips before end of day today. Drip price is still about 10% above NAV, which means it is priced at a premium and will drop by that much one of these days. Oil seems to have started a bullish rebound. and also today is quadruple witching day which spells green for the markets near the close before plunging on Monday.
Check out Gush!  Total number of shorts increased by 43% today (huge) with oil prices going up today so the ETF stock was over sold - so someone shorted about 1 million shares and didn't unwind it all so holding onto the % increase which will be their loss.  Short squeeze tomorrow in a big way if oil starts going up and they try unwinding the short position accelerating the increase.  In other words a lot of buying to cover the 1 million shares sold/shorted.  Hmmm will USA/Canada/Etc joint OPEC?  Great depression caused a similar situation just the dominos are falling differently - before = wheat/ww2/dust bowl/banks/stock market crash Now = Corona/Oil/Stock market crash but Banks are still propped up.  Dominos falling in a different order to same result unless drastic measures are taken - IMO like joining OPEC which would cause oil to go crazy but stabilize.
insane day again. exited too early at 400, looking to re-enter at a lower level as i expect a violent rebound of 10-20% today, but did not enter gush in case i am wrong.  50% more to break even boys!
Maybe the low prices could be done due to the drip announcement. Do you have any other possible hipothesys?
someone hypothesized that on the Friday rally, XOP went up by 22%. this means that the NAV of Drip would have dropped by 66%. so for every 100 bucks we have we are left with 34. on 11th March and 12th, XOP fell 6% and 11%, so NAV is now 34 * 18% and 33%, bringing our capital to 54 bucks. but XOP rallied again on 13th by 14.81%, which means Drip should fall by 44.43%, bringing our capital down to 29 bucks. Hence even though market is falling like mad, the leverage of Drip will ***us every time there is a one day rally
Since Friday, DRIP was not tracking inversely to GUSH neither to OIL indexes, it showed a plain channel; yesterday, I wrote to Direxion but it seems the communication was blocked due to manipulations. Have anyone of you tried to reach Direxion?
 Drip top ten holdings are severely down over the last days and yet it appears I must take a loss. What gives? WPX Energy Whiting Petroleum Apache EQT Callon Petroleum Range Resources Concho Resources Noble Energy Eog Resources Devon Energy http://www.direxion.com/products/daily-sp-oil-gas-exp-prod-bull-3x-shares
When XOP rallied on the 16th it caused drip to go down quite a bit, volotiliy on 3x leveraged ETF decay over time, especially when there's been so much volotiliy in the markets. The way these have been jumping around I wouldn't hold them for long.
I'm not an expert on this specific ETF, I would get ahold of Direxion.
Do you think Direxion could act in a fradulent manner?
must have been a split, more shares outstanding now...
no the split is supposed to be on the 26th.
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