Direxion Daily Energy Bull 2X Shares (ERX)

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This is normal for this one.. Up big.. down big..

I think the gap is going to fill...

Do you think oil is going to stay this low priced? I don't
How long will it take for oil to reverse? A year maybe
Should I average in? I am
Should I have fear? Don't spend what you cannot lose
Does this ETF follow oil? No, it follows oil companies
Does a drop in oil effect oil company profits? Yes, but many are integrated back from plastics and gasoline and often they hold prices as they go down not having huge impact on profits.
Can fracking make cheap oil? Yes, upfront cost are the most cost; once those are done, they can extract cheap oil.
Do these oil companies hedge? Yes... Not all will be good ones but the pain of lower oil not as great as if no hedge.