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ProShares Ultra Oil & Gas ETF

6/18/2013, 5:23 PM ET

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Wednesday, June 12, 8:13 AM The odds that oil prices will fall over time due to supply increases gets support from the IEA's latest oil market report, which projects the amount of oil processed by refineries to rise by 2.2M bbl/day between Q2 and Q3 to average 77M bbl/day. Non‐OPEC supply expectations are raised to 54.5M bbl/day for 2013 on rebounding output in South Sudan and strong North American oil sands and tight oil production. Comment! [Energy, Global & FX]
Friday, May 3, 8:00 AM "We don't want to sell in May and we continue to prefer cyclicals (XLY, XLI, XLB, XLE) ," says JPMorgan's Tom Lee, fully returned to his normal bullish stance. He notes client positioning is "dramatically different" from the heavily long stance of the last 3 years at this time. More, the downturn in gasoline prices could ad 50 bps to GDP in Q2, and the rally in high-yield suggests the economy is set to get stronger. 1 Comment
Monday, April 29, 8:41 AM Credit Suisse remains bearish on the commodity sector, noting years of high prices triggered a capex surge, with new supplies coming on just at the time they're not needed. Mining stocks (XME) may look cheap, says the team, but it's a sector that once it gets oversold tends to remain so. Big-cap oil (XLE)? It tends to outperform only during periods when stocks are falling, credit spreads are rising, or the oil price is spiking - none of which is likely. Comment! [Commodities]
Friday, April 26, 4:54 PM Recent underperformance in Exxon's (XOM) shares is unwarranted and is about to turn a corner, Cowen says, but not everyone on Wall Street agrees. Goldman Sachs is Neutral on XOM following Q1 earnings and sees production declines and reductions in overall cash returns. Deutsche Bank paints the entire integrated oil sector (XLE) with a broad brush: "no growth and declining returns." 2 Comments [Energy]
Friday, April 26, 10:37 AM This week has seen a nice pickup in battered cyclical sectors, as the materials sector (XLB), the year’s second-worst performing group, began today as the week’s top gainer, rising 4.5%. Next was energy (XLE), the year’s third-weakest, up 3.2%. MKM Partners thinks it means the recent gains may morph into sustained momentum, and likes adding June calls in XLB and the oil service ETF (OIH). 1 Comment [Energy]
Friday, April 26, 8:34 AM The beginning of a bigger move? Two of the year's three strongest performing sectors - healthcare (XLV) and consumer staples (XLP) - are down on the week as the three weakest sectors - energy (XLE), materials (XLB), and tech (XLK) - post gains of 3%-4.5%. 2 Comments
Wednesday, April 17, 12:57 PM Energy stocks (XLE -2.8%) trade well below the broader market as crude oil futures plunge after a surprising drop in U.S. distillate supplies and a smaller drop in crude supplies than API data showed. With the U.S. dollar substantially higher, analyst Tariq Zahir sees crude continuing its downward trend. Refiners: VLO -3.9%, TSO -5.6%, PBF -6.3%, CVI -6.8%. Big losers: LPI -5.4%, HLX -5.9%, PDS -6.5%, PWE -5.8%, KOG -4.4%. Comment! [Energy, On the Move]
Monday, April 15, 11:57 AM It's not as bad as gold, but crude oil is taking a beating too as weaker-than-anticipated economic reports from China deepen demand worries. Goldman Sachs says it has closed its long position in Brent crude with a loss of ~15%, worried prices will come under more pressure as European refining capacity comes back online after routine maintenance. WTI -2.9% to $88.59, Brent -2.6% to $100.45. Comment! [Energy, Global & FX]
Monday, April 15, 11:24 AM A 2.5% move up in Citigroup following earnings is allowing the banks (XLF) to tread water or even move higher in an otherwise bright red tape. Leading the S&P on the downside is the resources sector, XLE -2.9%, XLB -2.5%. S&P 500 (SPY) -0.7%. Comment! [Financials]
Thursday, April 4, 3:10 PM A few leave the bullish camp in the AAII Investor Sentiment survey, their number declining 2.9 points to 35.5%. A slight drop in bears brought their number down to 28.2%, the lowest level in 9 weeks. A special question asked for investor's favorite sector. The winner? Energy (XLE), including MLPs (AMJ), with 30% of the votes. Comment!
Thursday, March 28, 11:12 AM The U.S. government reportedly is set to lift the embargo of shale gas to Japan as early as next month, giving conditional approval and then proceeding to examine Japanese companies and their shale gas projects on a case-by-case basis. Japan's LNG imports have been rising since the 2011 Fukushima nuclear plant disaster, and U.S. LNG prices have been falling due to the sharp rise in shale gas output. 3 Comments [Energy, Global & FX]
Wednesday, March 27, 2:51 PM Green enters the major averages which all were down nearly 1% in the day's early going on EU bank worries. The Nasdaq +0.1% even as Apple and Google slip more than 1%. The DJIA -0.2%, the S&P 500 -0.1%, with financials the biggest drag, but energy (XLE) and healthcare (XLV) mostly higher. 2 Comments
Wednesday, February 20, 3:21 PM Why the tumbling price of crude matters? The energy sector (XLE) has been the clear leader in 2013's rally, notes ukarlewitz. If it turns, will another sector step up or will energy lead the way down? Comment! [Energy, On the Move]
Monday, February 11, 4:34 AM Shell (RDS.A) has unilaterally changed the SUKO 90 terms of how forward BFOE (Brent, Forties, Oseberg and Ekofisk) cargoes are traded. Shell said said the new rules will support the Brent benchmark, whose validity has come under increasing scrutiny, by allowing more grades and cargoes to be used in establishing the price. However, Platts, which sets the Dated Brent physical price, will disregard Shell's new terms until it has consulted market participants. Brent crude +1.4%. Comment! [Energy]
Friday, February 1, 10:11 AM Stocks move to session highs following the big ISM beat, not to mention better-than-expected sentiment numbers. S&P 500 +0.9% and the DJIA is just 10 points shy of 14K. Treasurys give up most of their post-payroll report gains. Comment!
Thursday, January 31, 11:57 AM Fidelity Contrafund manager Will Danoff is cautious about the energy sector (XLE), noting some companies continue to chase growth at the expense of returns. The industry - which made a massive investment in shale gas, causing prices to collapse - is doing the same thing with shale oil, he says. Comment! [Energy]