Stock Trader Diary

The stock market drop of this past week presented fantastic opportunities to buy stocks at unbelievable lows. ERX, the Direxion 3X energy bull, dropped briefly below $40 per share. I loaded up with more shares as fast as I could while ERX was selling in the $40 to $50 range.

Since ERX is tied to the price of oil, and oil demand is not going away anytime soon, this was the bargain of the year. This stock can easily rise to more than $80 per share because it has been there before. That is a 100% gain from the low price of the stock. It has already gained 20% from the low with the current price of $47 and change.