Direxion Daily Energy Bull 2X Shares (ERX)

[Smilin_B]

Yes UCO , but it is reverse splitting 1:25 on tuesday so it's one of those ETFs that will be super expensive if crude oil does bottom and starts to reverse trend again. I just don't see that happening to crude oil right now. All of the coronavirus and Gilead treatment stuff is propelling the market forward but crude oil check it out of its own way. There was just simply too much of it no amount of positive news about treatment for Coronavirus or people going back to work anytime soon is going to eat into that Supply.

ERX had a 1:10 recently i see. What an incredible run up its had over the last week or so. I completely botched by not knowing this fund existed. Hoping for some type of a retracement but not going what the Catalyst will be. Clearly this does not trade in tandem with the underlying commodity crude oil. I'm suspecting that this fund intent on taking advantage of the consolidation that could occur if our us frackers call Michelle producers and refiners file bankruptcy and these companies that the fund holds approximately 80% of institutional stocks in, takes over the smaller companies