Will the oil price rebound anytime soon?
As far as the oil ETF is concerned (ticker: USO) not. The modest rebound of the last week is not met with stronger volume.
On the contrary.
As far as the oil ETF is concerned (ticker: USO) not. The modest rebound of the last week is not met with stronger volume.
On the contrary.
The renko chart of the Financial Bear 3x Shares ETF (ticker FAZ) seems to be bottoming. Does this mean that good news from banks have lesser and lesser impact?
Now, in recent days more than 125 million shares were traded in the FAZ. That’s a lot. That’s more than the combined trading volume of Microsoft, Intel, IBM and Exxon combined. Without any doubt this fact is influencing the prices of the underlying bank names, because this ETF is constructed as a derivative in order to generate the three times leverage.
It’s clear that a lot of trading power is hooking up here.
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