ETF Reckoning Day?
Sep 3rd, 2009 | By Ian Mathias | Category: ETFsCommodity speculators take heed: The popular crude oil exchange-traded note DXO is kicking the bucket — quickly and controversially — and other similar securities might follow suit.
Commodity speculators take heed: The popular crude oil exchange-traded note DXO is kicking the bucket — quickly and controversially — and other similar securities might follow suit.
Stocks, base metals and crude oil made further headway last week. Long-term US bond yields came down a bit following a successful 30-year bond auction and some pro-Treasurys comments from Japan’s finance minister. The dollar dipped while commodity-link currencies rallied.
Oil is trading well over $70 a barrel – at its highs for this year – and just off nine-month highs of $73.20, seen last October 21, oil has been steadily rising. Oil prices have risen nearly 100% since their $38 a barrel lows seen last January.
This is the third article I have written since March imploring people to buy oil, and now gas. Time is running out. This is the first time I have ever repeated a subject in one of my articles, but this is such a great opportunity it deserves one more shot for those who may have missed it.
Steve McDonald of Investors Daily Edge doesn’t want to see you get ripped off at the gas pump again. He recommends two Oil ETFs that will play out as part of the “the best buying opportunity since the market collapse of the late 70’s.”