Replies to post #47800 on 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%

[learningboutinv]

Foot, although after reading another article it looks like you can trade DCR (Short OIL contracts) til June 25, 2008.

"The last day of trading for UCR and DCR will be June 25, 2008.

On July 3rd, a final distribution payment will be made to the UCR and DCR shareholders of record as of June 30th based on the underlying value of the Up and Down MacroShares Trusts. The underlying value of the trusts will be determined based on the June 25th closing price of the NYMEX light sweet crude oil futures contract for August."

http://biz.yahoo.com/bw/080417/20080417006264.html?.v=1