Oil’s BIG DECLINE and 4 AMEX Top Losers

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

ProShares Trust Ultra VIX Short-Term Futures ETF (AMEX:UVXY): The recent dramatic decline in the VIX (NYSE:VXX), i.e., some 26 percent in one week, has Steve Sears remarking that “Hyper-optimism has returned to the stock market”. Although the slowdown has almost attained levels common to bull markets, Sears worries that the change seems to not be linked by economic fundamentals, but perhaps the anticipation of easier central bank policy. UVXY shares closed down 8.6 percent at $11.05.

Investing Insights: Gold and Silver Decline After Weak Data.

ProShares Ultra DJ-AIG Crude Oil ETF (AMEX:UCO) shares closed down 7.2 percent at $25.63, as oil was a part of yesterday’s big decline, briefly falling below $80 per barrel, and stands now down 0.9 percent to $80.72. Even though lower oil is helpful to the consumer (and the economy), Mark Hanna wants strength in crude as well as industrial names like CAT, which would affirm the recent bullish action in the broader equity markets.

VelocityShares Daily 2x VIX Short-Term ETN (AMEX:TVIX) shares closed down 5.34 percent at $5.85, having traded between $5.84 and $109.17 in a 52-week range.

Golden Star Resources, Ltd. (AMEX:GSS) shares closed at $4.77, which is down 4.88 percent; they have traded between 90 cents and $3.12 in a 52-week range.

Samson Oil & Gas Limited (AMEX:SSN) was among the bid partners for 90 shelf and deep water blocks located in the Central Gulf of Mexico offshore lease sale, conducted by the Bureau of Ocean Energy Management. Apache (NYSE:APA) was high bidder on the acreage, among 55 other companies which included Samson, Stone Energy (NYSE:SGY), Noble (NYSE:NBL), Repsol (REPYY), Nexen (NYSE:NXY) and Ecopetrol (NYSE:EC). Apache reports that it was ranked No.1 overall for its 61 high bids on the shelf, while Apache Deepwater, the company’s deep water unit, was ranked No. 4 overall with 29 high bids, with the aggregate of the combined high bids reaching almost $96 million gross. Sampson shares closed down 4.55 percent at $1.26, having traded between $1.15 and $3.15 in the last 52 weeks.

Don’t Miss: Here’s How China’s Government is ATTACKING Baidu and Google.

Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business