Direxion Daily Energy Bull 2X Shares (ERX)

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Direxion 3X Leveraged Bull Shares (ERX)

It worked the last time I recommended it, and I expect it to perform once again. The ETF is the absolutely best way to take advantage of a short term spike in oil prices. The fund holds companies like XOM, OXY, and even HAL, all of whom have gotten hit hard due to weakened oil prices.

Oil has some solid support at $80, and we may be seeing a replay of the price action seen back in August. Oil tested $80, shot up to $90, and stabilized for a couple weeks in the mid-high 80s. Energy stocks outperformed. The fund requires an ability to deal with huge swings, and its risks should be understood by those who decide to use it.


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