CA - GUSH: Buying The Dip In Traditional Energy With Leverage
2024-06-25 14:29:39 ET
Summary
- Crude oil prices corrected lower, while natural gas prices rose.
- Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF remains near highs despite a bearish trend.
- Leading traditional energy companies like Exxon Mobil and Chevron Corporation are earning significant profits, making them attractive investments.
- The GUSH ETF provides leverage for a basket of the leading traditional energy stocks.
NYMEX WTI crude oil prices (CL1:COM) declined below $80 per barrel before recovering, while nearby NYMEX natural gas futures prices (NG1:COM) rallied above $3 per MMBtu before correcting. Traditional energy commodities have moved in opposite directions over the past few weeks. Meanwhile, the S&P 500 Energy Sector SPDR ( XLE ) is sitting at just over $90 per share, not far below the April 2024 high....
GUSH: Buying The Dip In Traditional Energy With Leverage