SPDR S&P 500 (SPY)

[learningboutinv]

Yeah, I was actually starring at your oil charts. I still wouldn't want to touch oil until I see it start to correct a bit.

The only true short oil contracts play that I know of and can find after searching for a bit is DCR. It's not leveraged 2x, it only 1 to 1. I am sure more short oil/crude contracts (ETNs) will come about as oil starts dropping.

But look what happened to it. "The record-breaking rally in crude oil has forced the liquidation of a pair of interconnected exchange-traded products linked to futures prices, but the backers are already preparing new funds to replace them."

http://www.marketwatch.com/news/story/oils-surge-taps-out-two/story.aspx?guid=%7BBBA804B8%2D513B%2D4A1C%2D875D%2DD424DCB1ED4C%7D&siteid=yhoof

BTW I agree that the problem with DIG and DUG the 2x proshares is it carries a lot of nat gas/oil companies that tracks the Dow Jones U.S. Oil & Gas Index. So who knows, DIG may actually do much better because the cost per crude barrel is less which means more refining profits?

Top 10 holdings for DIG:
EXXON MOBIL CORP COM STK 27.25%
CHEVRON CORP COM STK 10.34%
SCHLUMBERGER COM USD0.01 6.85%
CONOCOPHILLIPS COM STK 6.55%
OCCIDENTAL PETROLEUM CORP 3.75%
TRANSOCEAN INC. (NEW) COM 2.70%
DEVON ENERGY CORP(NEW) 2.67%
APACHE CORP COM STK 2.48%
HALLIBURTON CO COM STK 2.25%
MARATHON OIL CORP COM STK 1.88%