Replies to post #66 on ProShares Ultra Short Oil & Gas ETF (DUG)

[surf1944]

I just bought some more DUG today. The problem is most all the hedges on the long side and the others are short. Too much money in oil and when everyone is in, it is near the top. The most recent huge reversal in a group was the tech group in Dec 07, everyone was in and the longs stated daily why it was going higher. We very well could see a 1 or 2 day parabolic up move in oil prices, I wouldn't give in to the longs at this point(the risk/reward is on the short side)

[frenchee]

From a long perspective as of today, the daily chart looks good to go. These are the setups which seem to work best for me as the security is oversold with improving RSI on significant volume...