Has DRIP Stopped Leaking?
Tim Knight | Sep 15, 2017 03:26PM ET
The triple-bearish-on-energy fund DRIP has lost a lot of ground in the past month or so, but looking at the Bollinger® Bands (as well as the supporting trendline), it seems like an opportune place for it to find strength.
Taking a big step back, you can see how the fund has been basing for years now. I think ultimately it will clear that blue horizontal line, completing the pattern.
I am not in DRIP myself, but I did buy puts on XOP on Thursday (up a little more than 6% right now), so I am definitely aligned the same way.
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