Replies to post #693 on Direxion Daily Energy Bull 2X Shares (ERX)

[todamoon]

ERY should of had a great day and it’s down and this is up after oil gets crushed! Doesn’t make sense

[Smilin_B]

Oil at $17.50?

Clearly you're looking at the Futures contracts for April (CLK20)

We are trading June futures now (CLM20)

When referencing crude oil oh, you need to be referencing the June contracts

[zsvq1p]

Target Index
The Energy Select Sector Index (IXETR) is
provided by S&P Dow Jones Indices and
includes domestic companies from the
energy sector which includes the following
industries: oil, gas and consumable fuels;
and energy equipment and services.

They use swaps to try and achieve 2 x's that index.

This ETF typically follows oil but not always. The other day stocks were up yet oil was down. It follows energy stocks.