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ProShares UltraShort DJ-UBS Crude Oil seeks daily investment results, before fees and expenses, that correspond to twice (200%) the inverse (opposite) of the daily performance of The Dow Jones—UBS Crude Oil Sub-IndexSM.
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Wednesday, Aug 282013, 7:05 AM
Wednesday, Aug 282013, 7:05 AM| Comment!
- S&P 500 (SPY), Nasdaq 100 (QQQ), and DJIA (DIA) futures are little-changed as markets mull the chance of Western military action in Syria.
- Europe is down moderately and Asia fell roughly in line with the 1%+ loss in the U.S. yesterday
- The action overnight was in crude oil which at one point was up more than $3 to over $112 per barrel. It's since trimmed those gains and now stands up a few cents at $109.60. USO +0.6% premarket.
- Other oil ETFs: OIL, USO, DBO, OLO, USL, CRUD, UCO, DTO, SCO, SZO, DNO, UWTI, DWTI.
- Gold is ahead a couple of more dollars to $1,422 per ounce.
- Treasury prices give back some of yesterday's big gain, the 10-year yield 3 bps higher at 2.74%.
- Stock index ETFs: IVV, SPY, VOO, RWL, SFLA, SSO, UPRO, SDS, SPXU, SH, EPS, RSP, BXUB, BXUC, BXDB, QQQ, QQEW, TQQQ, QID, SQQQ, PSQ, QLD, QQQE, DIA, DDM, UDOW, DXD, SDOW, DOG.
Tuesday, Aug 272013, 9:41 AM
Tuesday, Aug 272013, 9:41 AM| 2 Comments
- Missile strikes could be launched "as early as Thursday," senior U.S. officials tell NBC, and last for "three days." The strikes would be limited in scope and aimed at sending a message to the Assad regime, they say.
- U.K. PM Cameron has recalled Parliament from vacation for a Thursday vote on a proposal for action. U.S. Defense Sec. Hagel tells the BBC the U.S. military is "ready to go" with any action ordered by the White House.
- Oil adds to its gains, WTI crude +2.4% to $108.50. USO +2.1%.
- Related ETFs: OIL, USO, DBO, OLO, USL, CRUD, UCO, DTO, SCO, SZO, DNO, UWTI, DWTI, BNO, UOIL, DOIL.
Tuesday, Aug 272013, 7:49 AM
Tuesday, Aug 272013, 7:49 AM| 4 Comments
- Moving along with the precious metals over Syrian tension is crude oil, with both WTI crude (USO) and Brent (BNO) up more than 1.6%. WTI at $107.50 per barrel is threatening to take out levels last seen in the Spring of 2011.
- The greenback is also catching a bid, moderately higher against the euro (FXE), cable (FXB), and the loonie (FXC), but sharply higher vs. the aussie (FXA). The dollar is losing a good bit of ground against the yen (FXY), and off just a bit vs. the Swiss franc (FXF).
- Dollar ETFs: UUP, UUPT, UDN, UDNT.
- Related currency ETFs: FXE, ERO, ULE, URR, EUO, DRR, EUFX, GBB, YCL, YCS, JYN.
- Oil ETFs: OIL, USO, DBO, OLO, USL, CRUD, UCO, DTO, SCO, SZO, DNO, UWTI, DWTI, BNO, UOIL, DOIL.
Monday, Aug 262013, 3:34 PM
Monday, Aug 262013, 3:34 PM| 13 Comments
- Stocks give up their modest gains and turn lower as Secretary of State Kerry calls out the Syrian regime for using chemical weapons and suggests the U.S. response may be more than tough words.
- Russia - which isn't convinced such an attack took place - says the U.S. and its allies are headed on a "slippery slope" to military intervention.
- DJIA (DIA -0.2%), S&P 500 (SPY -0.2%), and the Nasdaq 100 (QQQ) goes to flat.
- Related ETFs: IVV, SPY, VOO, RWL, SFLA, SSO, UPRO, SDS, SPXU, SH, EPS, RSP, BXUB, BXUC, BXDB, DIA, DDM, UDOW, DXD, SDOW, DOG, QQQ, QQEW, TQQQ, QID, SQQQ, PSQ, QLD, QQQE.
- Crude oil and gold - for now - are showing little reaction.
- Oil ETFs: OIL, USO, DBO, OLO, USL, CRUD, UCO, DTO, SCO, SZO, DNO, UWTI, DWTI.
Wednesday, Aug 212013, 5:59 PM
Wednesday, Aug 212013, 5:59 PM| 5 Comments
- Iran wants to boost oil production by 70% in an effort to retake its place as OPEC’s second-largest producer and is willing to start an oil price war to win back market share lost through sanctions.
- Iran's state-run oil company is bullish about its ability to actually raise production, and the new oil minister - who served in the role from 1997 to 2005 - is welcomed as a respected figure who will remove politics from production.
- Raising production likely would require the return of western oil majors Statoil (STO), Total (TOT) or Eni (E) that quit Iran when sanctions hit.
- Also: A gap in U.S. law has allowed China to import nearly $500M of additional oil products from Iran this year while avoiding sanctions.
- ETFs: USO, UCO, OIL, BNO, DBO, OLO, USL, CRUD, DTO, SCO, SZO, DNO, UOIL, DOIL, UWTI, DWTI.
Tuesday, Aug 202013, 8:02 AM
Tuesday, Aug 202013, 8:02 AM| 1 Comment
- China is on track to overtake the U.S. as the world’s largest crude oil importer, likely drawing most of its supplies from Middle East producers, according to consulting firm Wood Mackenzie.
- China’s oil imports should rise to a rate of 9.2M bbl/day by 2020 from 2.5M in 2005, and spending ~$500B annually on oil imports, while U.S. imports will fall to 6.8M bbl/day from a peak 10.1M in 2005.
- Between 2005 and 2020, OPEC's share of Chinese oil imports is expected to rise to 66% from 52% percent.
- Oil ETFs: USO, UCO, OIL, BNO, DBO, OLO, USL, CRUD, DTO, SCO, SZO, DNO, UOIL, DOIL, UWTI, DWTI.
Wednesday, Aug 142013, 10:44 AM|Wednesday, Aug 142013, 10:44 AM| Comment!
Monday, Aug 122013, 1:14 PM
Monday, Aug 122013, 1:14 PM| Comment!
- Know your ETF. The United States Oil Fund (USO) has returned just 0.6% annualized over the last 3 years even as WTI has gained 30%. The reason is its reliance on the futures market. With the market in its normal state of contango (out prices are higher than near prices), buy and hold gets creamed as contracts are rolled over.
- USO's strong performance this year has much to do with a futures market in "backwardation" - near term contracts are priced higher than longer-term ones. Unless you believe it's going to continue - and Newedge's Robbert van Batenburg says backwardation is extremely rare in WTI oil - it may be best to leave USO to the fast-money crowd.
- Oil funds that might enjoy a return to contango include USL and DBO, but perhaps the best way to play is through oil companies which benefit from a market allowing them to sell forward at better prices. The SPDR S&P Oil & Gas Exploration ETF (XOP) is an interesting ETF candidate.
- Related energy ETFs: U.S.: IEO, IEZ, IYE, PXE, PXI, XES, XLE, XOP, VDE, RYE, FXN, OIH, PXJ, PSCE, ERX, DIG, ERY, DUG, DDG.
- Related oil ETFs: OIL, USO, DBO, OLO, USL, CRUD, UCO, DTO, SCO, SZO, DNO, UWTI, DWTI.
Monday, Jul 222013, 8:18 AMU.S. crude oil is trading above Brent, topping $108/bbl and erasing a discount of more than $20 in five months. Shale oil was supposed to usher in an era of low prices, but prices will be supported while Gulf of Mexico refiners are prepared to pay even more for crude, as Reuters reports. The refineries are processing record amounts of crude and reaping the benefit from strong margins on products sold overseas. |Monday, Jul 222013, 8:18 AM| 1 Comment
Thursday, Jul 112013, 2:24 PMCrude oil futures weaken following an unconfirmed report that the 400K bbl/day Seaway Pipeline has been shut down. Flows from Seaway and other pipelines have been key in drawing down crude from the Midwest hub in recent weeks and sparking a jump in prices. Seaway is a 50-50 JV between operator Enterprise Products Partners (EPD +0.8%) and Enbridge (ENB +1.9%). |Thursday, Jul 112013, 2:24 PM| 2 Comments
Thursday, Jul 112013, 7:36 AMNot participating in a big broad commodity rally is oil (USO, BNO) with a bearish IEA report offering traders an excuse to sell after a big move higher. The agency sees non-OPEC supply rising by 1.3M barrels/day in 2014, a growth rate achieved only once in the last 20 years. Drill baby, drill - the largest increase will come from the U.S., 530K barrels. Geopolitical and technical risk could dent this forecast by 500K barrels, says the group. WTI crude is off 0.6% to $105.87. |Thursday, Jul 112013, 7:36 AM| Comment!
Wednesday, Jul 102013, 7:21 AMThis just in - crude oil's in a bull market. Up 1.6%, WTI crude hits a new high for the move of $105.25/barrel - it's up 15% YTD and more than 30% from a year ago. Middle East rumblings may make a good excuse, but the run suggests some strength to global demand despite the curiously weak Chinese trade data overnight (which may just be a reversal of previous curiously weak data). Could the rising price put a dent in the Fed's projections of economic strength? USO +0.5% premarket. |Wednesday, Jul 102013, 7:21 AM| 2 Comments
Friday, Jul 52013, 7:31 AM
Wednesday, Jul 32013, 6:15 PMCrowds in Cairo are alarming and partly responsible for WTI crude pushing past $100/bbl, but Liam Denning reminds that Egypt is a net oil importer, and Suez Canal oil transit totals just 0.1% of global demand. The big picture doesn't support higher oil prices: U.S. commercial stockpiles are near 20-year highs, and emerging markets will continue to drive demand growth. Even as near-month futures have risen by ~$7/bbl in the past month, futures for 2016 and beyond have dropped. |Wednesday, Jul 32013, 6:15 PM| 11 Comments
Tuesday, Jul 22013, 10:40 PMWTI crude oil (USO) gains another 2.2% in overnight trade, now fetching $101.80 per barrel, the highest level in about 15 months amid political turmoil in Egypt. The situation may be bad enough to threaten the region's oil supplies, but the Egyptian stock market rose 4.9% today suggesting some measure of hope. The Egypt Index ETF (EGPT) gained 5.8% in New York trade. S&P 500 futures -0.2%. |Tuesday, Jul 22013, 10:40 PM| 7 Comments
Tuesday, Jul 22013, 3:00 PMThe meme during the 70s was that gold and oil moved together. Consumers of today have no such luck as the bear market in gold is met by a crude market refusing to budge. WTI's (USO +1.6%) gain today has the lead month just under $100/barrel and the highest price in nearly a year. Egypt's maybe-crumbling government is as good of an excuse as any for the recent rise. The energy sector (XLE +0.1%) ekes out a gain as the broader market falls. |Tuesday, Jul 22013, 3:00 PM| 4 Comments
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vinyal:: except oil just broke support. so expecting some more downside
mix:: It is confusing when you say you are bullish an ultra short oil etf... :)
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vinyal:: ... i meant when oil goes to 94
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mun2000:: it is not first time when rally rally after supply increase .burn many times now I think that buy every dip in oil is good
mun2000:: Big mistake should buy when it was 3% down got greedy wait for fed to drop more
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The Berenstain Bulls:: Goodluck my friend.