Rochester,NY 7/5/2009 6:01:24 AM
Weekend Report - DXO -Wagering on Future Prices With Oil ETFs- Sourced WhisperFromWallStreet.com
PowerShares DB Crude Oil Dble Long ETN
Weekend Report - DXO -Wagering on Future Prices With Oil ETFs- Sourced WhisperFromWallStreet.com
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PowerShares DB Crude Oil Dble Long ETN,DXO
Market Update: 4.14 Up 0.01 (0.24%) 7:55PM ET
Owners of PowerShares DB Oil and other oil ETFs and ETNs might have expected more after Goldman Sachs put out a bullish call on oil Wednesday, but crude oil failed to rally as the U.S. dollar and FedEx's earnings projection put a damper on inflation fears. Goldman Sachs' energy research head put a $95 price target on crude oil for December 2010. Interestingly, Goldman believes the price will be driven by emerging market demand and it does not expect developed markets to contribute new demand until 2011. In the near term, Goldman argues that the April-May run-up in oil was a result of improved credit conditions, but it shifted to investor optimism in June. If economic data doesn't deliver or investor optimism wanes, a decline in crude is well within reason. This argument could probably be applied to most financial markets in the past few weeks....
About
The investment seeks to track the price and yield performance, before fees and expenses, 200% of the daily return of the Deutsche Bank Liquid Commodity index - Optimum Yield Oil Excess Return. The fund allows investors to take a leveraged view on the performance of crude oil. The index is a rules-based index composed of futures contracts on light sweet crude oil (WTI) and is intended to reflect the performance of crude oil.
Last Trade: 4.13
Day's Range: 4.11 - 4.19
52wk Range: 1.73 - 29.65
Volume: 8,855,127
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