First-quarter earnings season starts in earnest this week, and while expectations for multiple sectors, including energy, are not so great, opportunities with leveraged sector exchange-traded funds are bound to present themselves in the coming weeks.
That includes the Direxion Daily Energy 3X Bear Shares (Direxion Shares Exchange Traded Fund Trust (NYSE: ERY)) and the Direxion Daily Energy 3X Bull Shares (Direxion Shares Exchange Traded Fund Trust (NYSE: ERX)). Those ETFs track the S&P Energy Select Sector Index, the same index followed by the widely followed Energy Select Sector SPDR (ETF) (NYSE: XLE).
How Much Influence Will Earnings Season Have?
While oil supplies show only modest signs of dwindling, energy earnings estimates for 2016 are contracting, market observers expect oil supply to continue outpacing demand, and it would appear next year could be another rocky one for exploration and production equities.
Depending on one's view, ERY is the play on ...
/www.benzinga.com/news/earnings/16/04/7828097/leveraged-energy-etfs-for-earnings-season alt=Leveraged Energy ETFs For Earnings Season>Full story available on Benzinga.com
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