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"There is a very interesting situation developing in the oil and gas industry," says Mike Turner. In the Trade of the Week advisory, he looks at the Oil & Gas Ultra ProShares (NYSE: DIG).

"Even though global economies are not rapidly recovering (although they do seem to be on a positive upslope), and even though there seems to be a bit more supply than demand in the energy markets, oil and gas stocks continue to move higher. What's behind this move?

"Oil has become the inverse proxy to the U.S. dollar. As the dollar weakens, the price of oil is moving higher. With the burgeoning debt piling up in the U.S., the dollar looks to be under pressure to move lower for the foreseeable future.

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DIG this oil and gas ETF originally appeared on BloggingStocks on Thu, 29 Oct 2009 13:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>commodity etfdiggas etfmike turneroil etfoil gas stocksOil Gas Ultra ProSharessteven halpernStevenHalpernstreet authoritythestockadvisors.comtrade of the weekThu, 29 Oct 2009 13:10:00 EST