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MARKUSTELLER
Energy Alert: Institutional Selling Triggers Reversal, Buy This ETF
posted Dec 05 '16 by markusteller
Energy Alert: Institutional Selling Triggers Reversal, Buy This ETF
Investors should be crystal clear there is a major top in energy stocks today. Institutional heavy volume sell action has spiked dramatically in the early afternoon today at 3x normal level. Stocks like Chevron Corporation (NYSE:CVX) are sharply off their highs of the day and oil has gone from positive to negative. Energy stocks have been one of the major Dow Jones Industrial Average catalysts for new all-time highs in the last week but today, oil continues to struggle at the $52/barrel level. I am a big buyer of the 3X Bear Energy ETF $ERY. This ETF has been slammed from $12.30, down to a $9.45 low in the last week. I am a buyer here at $9.60 with expectations of a move back to $10.50-$11.00 within a week.

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