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I'm keeping my powder dry.. until I see

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zsvq1p   Wednesday, 04/01/20 11:33:35 AM
Re: pay streak post# 680
Post # of 739 
I'm keeping my powder dry.. until I see the virus situation improve.

I do believe oil is at the bottom... We have a lot of factors:
- Demand.. how long will it be before people can go back to work
- Saudi and Russia conflict (agreement might pop it)
- Trump buying (keeps thing artificially high)
- Trump offering storage (keeps thing artificially high)
- The smaller producers debt
- Producers cutting output

When I start.. which might be in another 30 days.. I will enter little by little every month.. with no fear. when this pops... IMO, it most certainly will be a 1-2 bagger. It's too bad it's only a 2x and not 3x's.. but Direxion might have gotten smashed on this one with losses due to that wild ass swing we had.

ERX tends to follow oil but it is skewed right now...

Index Top Ten Holdings %
Exxon 22.38
Chevron Texaco 20.36
EOG Resources 4.63
ConocoPhillips 4.50
Schlumberger 4.48
Phillips 66 4.28
Kinder Morgan 3.91
Marathon Petroleum 3.71
Valero Energy 3.65
Occidental U 3.49


Index Sector Weightings %
Oil, Gas & Consumable Fuels 89.66
Energy Equipment & Services 10.34

http://www.direxion.com/products/direxion-daily-energy-bull-3x-etf

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