After thinking and reading for almost three weeks on whether oil and oil producers were a good value, today I felt good and made some trades. Today I sold my position in FXP (basically an ETF that shorts the FTSE/Xinhua China 25 index) and used the proceeds to purchase DIG and USO, two etfs that track oil and oil producer indexes.
The chart shows the two etfs side by side. The top shows a two year view and the bottom shows a six month view. The green circles are where I made purchases.
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