ProShares UltraShort Oil and Gas (DUG)

[surf1944]

I haven't owned any DUG for some time, may be time to move back in.

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not watching latley,sorry

[northam43]

DUG making new 52 week low. Is this a good level to buy? or do you expect better buy at lower levels?

[THEMONEYMANRL]

i do this time every year usually good for a pop when summer comes its tradeing very low right know

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http://www.321energy.com/editorials/maund/maund011109.html

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http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2684038

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http://social.stocktock.com/profiles/blogs/all-you-need-to-see-to-be

[kscordo]

NYSE Arca// Proshares "SDK","SJL","TLL","SKK","SDP" will resume trading at 12:16:00 ET.

[kscordo]

NYSE Arca// Ruling "SDP"- Powershares Ultrashort Utilities

NYSE Arca// NYSE Arca Market Management in conjunction with Nasdaq Marketwatch, has ruled to cancel all trades in security Powershares Ultrashort Utilities "SDP" at or below $44.99 that were executed on NYSE Arca between 09:30:00 and 10:20:00 ET.

This decision can not be appealed.

[kscordo]

NYSE Arca// Potential Erroneous Trads "SDP" - Powershares Ultrashort Utilities.

NYSE Arca// NYSE Arca Market Management is investigating potentially erroneous transactions involving the security Powershares Ultrashort Utilities "SDP" executed between 09:30:00 and 10:20:00 ET today. We will advise when more information becomes available.

[kscordo]

NYSE Arca Trading halt due to news pending

SDK

SJL

TLL

SKK

SDP

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Crude Contract Spreads

Courtesy of Optioninvestor.com
"Another problem is the unwinding of hedges by companies like airlines and truckers. When faced with constantly rising oil prices in the first six months of 2008 all of these people put on huge amounts of complicated hedges in order to protect themselves from higher prices. The only way to hedge is to be long the futures and options in some form. Because of the expense of creating longs representing the billion barrels of crude they burn each year they are forced to do this with leverage instead of straight crude futures. We all know how leverage works. It is great if the position is going in your favor but horrible when it turns against you. The losses pile up even faster than the gains. Companies hedging against $100 oil were jumping for joy as prices fell back to $60 and then $50. Thinking they were seeing prices dip back to realistic levels many actually increased their hedges while celebrating their good fortune. As prices fell under $50 and then $45 those long hedges began costing them hundreds of millions in losses. As the losses mount they are forced to liquidate and that means selling their longs with increasing panic as their own selling pushed prices even lower. We saw airlines reporting billions in losses when crude went over $75 and I suspect we are going to see them report monster losses from hedging exposure for the current quarter. Crude prices for the February contract are likely to come under some serious pressure next week as the market begins to factor in the same supply glut for February."

Jim Brown, OptionInvestor.com
http://www.optioninvestor.com

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on watch for a few more red days

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http://www.stockconsultant.com/consultnow/basicplus.cgi?ID=sample&symbol=USO&26391

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ERY

[stockerz]

That's what I'm thinkin too!!

[Sidney]

Good question.

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maybe scale in,it looks way oversold

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hey Sidney,I'm wondering if XOM or energy holds up the DOW friday if numbers are bad.

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Yes XOM Bounced off 76.37

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No not yet although I did buy 100 ERX at 32 today since i bought dig a little early.

[Kamillion]

i hate dig

[stockerz]

Good question. Not sure a chart will tell us.

[Sidney]

Below it now. Wonder where bottom is.

[stockerz]

Do you play DXO at all - almost at 52wk low

[stockerz]

1/3 in Dig in mid 25's - lookin to add some more

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in DIG 25.75

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sold dug 36.24

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Bought DUG EOD,might hold till friday.

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Oil rises slightly after plunging to 3-year low
Wednesday December 3, 7:01 am ET
By Pablo Gorondi, Associated Press Writer
Oil rises slightly above $47 as investors mull impact of slowing Chinese, US economies


Oil prices rose slightly Wednesday but remained near three-year lows as investors tried to gauge how much the slowdown in U.S. and Chinese economies will hurt demand for crude.
By midday in Europe, light, sweet crude for January delivery was up 30 cents to $47.26 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $2.32 overnight to settle at $46.96 after touching $46.82, the lowest level since May 20, 2005, when it traded at $46.20.

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In London, January Brent crude rose 30 cents to $45.74 on the ICE Futures exchange.

"The rallies we've seen have been false rallies, relief rallies," said Mark Pervan, senior commodity strategist with ANZ Bank in Melbourne. "The mood is overwhelmingly bearish at the moment."

Investors have been discouraged by growing evidence that China's economy, the world's fourth largest, may slow more than previously expected. Property prices in China have plunged, leading analysts to expect a drop in construction, an important driver of Chinese growth.

"The gloomy economic outlook and the resulting sluggish demand picture remain one of the major reasons for the slump in oil prices," said a report by JBC Energy in Vienna, Austria.

The World Bank last week cut its 2009 Chinese growth forecast to 7.5 percent, the slowest in almost two decades.

"There are much clearer signs that China is slowing, and this has caused the recent leg down in prices," Pervan said. "The U.S. remains the major market, but the downturn in China is accelerating."WATCH THEIR ELECTRICTY USAGE.

Oil prices have fallen about 68 percent since peaking at $147.27 in July.

A production cut by the Organization of Petroleum Exporting Countries in October failed to halt the slide in prices, and now the group is asking non-OPEC producers for help.

OPEC President Chakib Khelil said Tuesday oil producers such as Russia, Norway and Mexico should "express their solidarity" with OPEC, either by joining the cartel or by following its reductions of output quotas.

Russian officials have said they are preparing a cooperation agreement with OPEC that could be examined at the cartel's meeting this month in Algeria.

"If Russia cuts production, it gives a bearish signal because it shows Russia is clearly concerned about short-term weak demand," Pervan said. "Russia only reacts under major duress."

Markets will be following the release Wednesday and Friday of U.S. unemployment figures, as well as Thursday's expected interest rate cuts by the European Central Bank and the Bank of England for more clues about the direction of those economies.

"The rest of the week will remain volatile in global markets" as they react to the fresh economic data and the rate decisions, said Olivier Jakob of Petromatrix in Switzerland.

In other Nymex trading, gasoline futures fell 0.14 cent to $1.0542 a gallon. Heating oil gained 0.33 cent to $1.5865 a gallon while natural gas for January delivery slid 1.4 cents to 6.41 per 1,000 cubic feet

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To be honest I really don't know,I've heard inverse this and compounded that. I just watch DJUSEN,DOW,CRUDE and XOM.I am just trading or flipping from 1 to 3 days

[dollars2bhad]

Hello Sir...nice trade...question for you...I noticed on the yahoo boards that a lot of individuals are slamming this ETF for albeit making them money slowly loosing its creditability to follow th market indices correctly over time...do you feel the same is true?

This is my first time trading and I am long DUG calls and short DIG puts for the moment...each sell goes into buying DIG actual stock...jus sos ya kno where I am coming from.
j

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Its only my first buy out of three,I'll watch 76.00 for XOM and 26.60 for DIG,or buy DIG at 29.

[stockerz]

Nice play.
Waiting for some funds to clear and then will
add some DIG heading into the Dec 17th Opec meeting

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out dug 34.50
in dig 28.00

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XOM watching support at 76.58 and resistance on a 10 minute at 77.69.
Oil is making higher highs on a 5 minute but don't see a breakout so i'm holding dug for now.

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From ibox:
To get an idea how DUG/DIG Trade.. you need to watch crude[per barrel],charts for the oil/gas index[$DJUSEN] The DOW,including the VIX and XOM, because the proshares fund of DIG/DUG are weighted 27% in XOM and 13% Chevron.
I scaled in DUG last week so I'm just waiting for it to run up.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33859429

[stockerz]

Hey Recognizer,
All rpeorts this weekend lean towards over supply
and decreasing prices.
How are you playing DIG/DUG
I've just started looking at them as oil seems to be
on the front of everything seems like a good pair
of stocks to play both sides of the market.

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http://messages.finance.yahoo.com/ETFs_%28A_to_Z%29/ETFs_U/threadview?m=tm&bn=51552&tid=40996&mid=41001&tof=2&rt=2&frt=1&off=1

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http://finance.yahoo.com/q?s=%5EDJUSEN

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OPEC likely to delay output cut decision to December
11/28/2008


CAIRO (AFP) – OPEC will probably wait until December to decide whether to cut output, ministers said on Friday, ahead of a meeting to review conditions in a market said to be awash with oil.

Organization of Petroleum Exporting Countries ministers are to meet in Cairo on Saturday amid pressure for production cuts to stem heavy oil price losses.

Most cartel members appeared to rule out an immediate reduction, preferring instead to wait until the next scheduled meeting in Oran, Algeria on December 17.

But Libya left the door open for a possible output cut this weekend.

"All options are open... We think that a decision will be taken sooner or later," Oil Minister Shukri Ghanem told AFP.

"We should study figures on supply and demand (and on) the increase in stocks," he said, "but that does not exclude the possibility of a decision" to cut production.

He added, however, that "some (members) think it is prudent to wait until things will be more clear."

Iran, Kuwait, Nigeria and Qatar have indicated that any decision to cut output would be made in December.

Venezuelan Oil Minister Rafael Ramirez said OPEC should cut production by "at least one million barrels" per day before the year's end.

"Maybe we need a cut. But we have to decide when -- if tomorrow or in the next meeting in Algeria," Ramirez told reporters.

Iran's Gholam Hossein Nozari declined to be drawn on the size of a production cut, although Iran has been pushing for a reduction of 1.0-1.5 million barrels per day (bpd).

"Here (in Cairo) we will prepare some data and maybe the final decision will be in Algeria," Iran's Nozari told reporters.

Hawkish Iran is a powerful voice because it is the second-biggest crude producer after OPEC kingpin Saudi Arabia. The Saudis have yet to state their position.

Iraqi Oil Minister Hussein al-Shahristani said that 80 dollars a barrel is a "reasonable" price for oil and that his country would support any decision to cut output "either here or in Algeria."

But Nigeria's Odein Ajumogobia added: "This is a consultative meeting. I don't think there is going to be any earth-shaking decision."

Qatar's Abdullah al-Attiyah said a decision "will likely be taken in Algeria" to cut production to shore up prices.

"We have to discuss the statistics... We will go to Oran. We are here to talk."

Only last month, ministers agreed in Vienna to reduce production by 1.5 million bpd, but the market has continued to slump.

OPEC, which pumps 40 percent of the world's oil, has seen prices collapse by about two-thirds since record highs of around 147 dollars a barrel reached in July. That has slashed revenue for members as a worldwide economic slowdown took hold and ravaged energy demand.

Last week, prices hit their lowest levels since early 2005.

OPEC officials and ministers are also saying the world is awash with more than adequate crude supplies, with Attiyah saying "oil stocks are high... the highest average in the past five years."

OPEC Secretary General Abdalla Salem El-Badri, also in Cairo for the talks, said the "market is over-supplied."

Kuwait's Mohammad al-Olaim said he believes OPEC needs to review more information before taking a decision on production, but added that a decision to cut would probably be taken in Oran.

"There is a surplus on the market and everyone knows that, and the decline in demand is there and it is a big amount... because of the global economic crisis," Olaim said.

Official OPEC output, without Iraq, currently stands at 27.3 million bpd.

In Friday trading, world oil prices closed mixed as traders eyed signs that OPEC would wait until next month before cutting output.

Light sweet crude for delivery in January fell just one cent to 54.43 dollars a barrel on the New York Mercantile Exchange (NYMEX) as trading resumed after markets were shut Thursday for the Thanksgiving holiday break.

On London's InterContinental Exchange (ICE), Brent North Sea crude for January rose 36 cents in late trading to end 53.49 dollars.

[stockerz]

Thanks for the charts.
I think we go lower for a while before we break over
58 or into 60's but just my opinion.
Economy is still pretty damn weak regardless of the
last week of up sessions.

[Recognizer]

both dig and dug are close to their lows in the 30's...do we go to 40? stay between 50-55? or try and break 58?
next week should be a good indicator
charts
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33590549

[stockerz]

I'm a little confused. Oil is massive lows and Dug
which is short the oil stocks is down close to its lows.