Make Money Investing The Warren Buffett Way
Bought stock in Chesapeake Energy(CHK) at $15.50 today. Chesapeake is the largest natural gas producer in the United States. Natural gas has declined right along with the drop in crude oil.
Still looking at Powershares Double Crude ETN(DXO). DXO continued its decline and closed at $2.30 per share.
I have already bought shares in two oil stock ETF’s last week in the form of the USO and UCO. Another way to play a rise in oil prices is through the Powershares Crude Oil Double Long Exchange Traded Note(DXO). DXO carries significant risk as it tracks 200 percent the daily return of crude oil prices. DXO has the potential to magnify gains or losses based on the movement of oil prices. DXO currently trades at $2.53 per share. With crude oil selling below $34 a barrel, this ETN may be worth buying.
