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Has DRIP Stopped Leaking?

Published 09/15/2017, 03:26 PM
Updated 07/09/2023, 06:31 AM
XOP
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DRIP
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The triple-bearish-on-energy fund DRIP has lost a lot of ground in the past month or so, but looking at the Bollinger® Bands (as well as the supporting trendline), it seems like an opportune place for it to find strength.

Direxion Daily S&P Oil & Gas

Taking a big step back, you can see how the fund has been basing for years now. I think ultimately it will clear that blue horizontal line, completing the pattern.

DRIP: Watch The Blue Line

I am not in DRIP myself, but I did buy puts on XOP on Thursday (up a little more than 6% right now), so I am definitely aligned the same way.

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