The Masters were talking this up last week via - Oil Prices Hit 2009 High - Go Oil Stocks (XOM, CVX, DIG). Oil prices are holding, gasoline is going up and yet the stocks have not reacted, this is the time to think forward and speculate on the best oil related stocks. Feeling Lucky? You can risk it all with the ProShares Ultra DJ-AIG Crude Oil ETF (NYSE:UCO).
Oil prices rose above $60 a barrel today (5/12), before falling back, as investors focused on signs of economic stabilization and a weaker dollar. Light, sweet crude for June delivery was up 56 cents at $59.06 a barrel after climbing to $60.08 a barrel in pre-market, electronic trading.
It was the first time oil traded above $60 a barrel since Nov. 11 when it hit an intra-day high of $60.80 a barrel. Oil last settled above $60 a barrel on Nov. 10, when it ended at $62.41. So, place your bets gentlemen.
You can always go for broke on oil thanks to the ProShares Ultra DJ-AIG Crude Oil ETF (NYSE:UCO). The UCO is a 200% ETF which means you can make a killing if oil goes up but you can lose your shirt if it stays south. The UCO bets with the Dow Jones AIG Crude Oil Sub-Index SM (DOWI:DJAIGCL) at double the fun, thus if the oil stocks that make up the DJAIGCL do well, you do twice as well with the UCO.
Disclaimer: No positions in any of the securities mentioned in this publication.