Neither oil's rally and nor the corresponding move in energy equities are short of doubters. That does not change the fact that the energy sector, the worst performer in the S&P 500 in each of the past two years, has been a freight train to not get in front of in recent weeks.
Over the past month, the Energy Select Sector SPDR (ETF) (NYSE: XLE), the largest equity-based energy exchange-traded fund, is up almost 12 percent. Of course, that is good news for the Direxion Daily Energy Bull 3x Shares (Direxion Shares Exchange Traded Fund Trust (NYSE: ERX)). ERX attempts to deliver triple the daily returns of the Energy Select Sector Index, XLE's underlying benchmark. ERX is modestly outdoing itself, jumping more than 37 percent over the past month.
All this while oil supplies ...
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