Gasoline: Biggest 3-Day Bounce Since ’08
Chris Kimble | Feb 03, 2015 01:19PM ET
Gasoline ETF (NYSE:UGA) has gained 12% in the past 3-days -- its strongest 3-day rally since 2009 (left chart).
The right chart graphs out the different times UGA has had large 3-day bounces since 2008.
Full Disclosure...The Power of the Pattern urged members to buy UGA last week when channel support/positive patterns were in play in the chart below.
Perspective -- The Dow has done well the past couple of days, but to match gasoline's rally, the Dow would have to be up over 2,000 points.
That's what I call a 'nice bounce' in UGA!
A rally in gasoline and crude oil could well be viewed as a positive by the stock markets.
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