Fear, pure fear.Wow, oil, being the most used commodity, has experienced the largest % decline of all commodities this year, and this ETF has declined the most of all stocks.
There is too much fear in oil right now, look at HOD and you will see that how much betting on oil's fall has performed, it's a ten-bagger within 5 months!
At this point, it will end at some point in the near future, and it will end very ugly for HOD. That chart will not even stay sideways, that chart will come down in a straight-line.
Oil is so clearly manipulated to the extreme, just as it did on the way up, and soon it will blow up.