If you believe as I do that we have entered
a new bear market, in both the stock market and in the crude oil market
then look no further than DRIP, Direxion's 3 X Bear Oil and Gas ETF.
A long time favorite of mine, DRIP will get you 2, for the price of one,
It is a bet on lower crude oil prices,.. and... a lower stock market,.. all in one !
The price of DRIP has...
Please see attached similarities between RSI and market movements in early 2013 IPO of Facebook $FB, and early market movements of $DRIP. I see long term weakness in S&P500, till mid 2019 at least. Oil is going lower too.
I can see $30 $DRIP by mid-January, and $68 $DRIP by March to June. But this could go back to IPO too, but that will take much longer, (5-10...
DRIP Direxion's 3 X Short Oil and Natural Gas ETF
a long time favorite investment of mine,
is a dynamic way to play both falling oil and stock prices
On 10/23/18, DRIP rose almost 11 %, in just one trading day !
4 Hour Chart on DRIP shows a multi month base between 5 and 8with a sharp move up in the last month.
This h ETF often LEADS ...price movements in...
I believe this stock will move like this because it have a consecutive pattern. Have a nice support right now and a bouncing point at 4.95. Candles creating higher highs and high lows (Bullish). Do your own DD and create your own plan of entry and exit.
DRIP is an inverse leveraged etf based on SPSIOP which formed a shooting star on the daily and weekly chart at prior resistance. Position anticipates a pull back on SPSIOP from rejected highs on weekly and daily to support above 6200. Averaged long entry is 5.38 stop loss at today's low of 5.24 higher opening next week in DUST will confirm pullback to support for SPSIOP
DRIP Direxion's 3X BEAR ETF on S+P Oil and Gas Exploration Index
broke out of a multi week 4 Hour BASE PATTERN on 8/15, rising 14 % to Cl. 7.56
Price rise out of the Base in DRIP means that Crude Oil has, at the minimum.
put in a price high near $75 in near term futures this summer, and the path of least resistance now may be to the downside.
This morning had a sharp fall in Oil price. I expect Oil's ICL drop to continue here. I missed the short from early February.
Bought DRIP 14.7, hard stop 13.7.
Looking for Oil to make a lower low below $60, then we'll see.