Direxion Daily S&P Oil & Gas Exploration & Production Bull 2X (GUSH)

[Sgreg]

$32 is a major support area. 30 is as well and also about $27. Hours ago oil caught a bid there at $27 and bounced and has been holding $32 since. Considering adjusting for inflation over the years etc I would be surprised if oil was to go lower then $26-27. Right now it looks the absolute bleakest for the oil sector, no hope at all. That's usually a good place to start buying. I'm not concerned at all about buying either UWT or GUSH at these levels. My only concern today is that these ETFs don't "break".