Correction*** ERX or Energy Long

**FIRST BELOW IS THE ORIGINAL POST, IF YOUY READ IT I WAS OBVIOUSLY LOOKING AT ERY (3X BEAR ENERGY ETF) AND LOOKING FOR A MOVE TO THE DOWNSIDE.  The proper way to play a move down in ERY is long ERX, long Energy, not short.

There was a USO call a few posts before this, that is a long position. Granted Energy and Oil are different although correlated, but this was a mistake. Thank you Rose*****



This was a put position yesterday I believe (XLE) , ERY still looks like a decent long (3x bear energy ETF).

 3 min intraday slipped badly and fast.

5 min trend is clear and there should be a decent move at least below the recent lows, I'd think quite a bit more.

An ETF like this is often a better choice as far as "getting a good deal" as the premiums on options are typically too high once the move has already started, this is why I like to enter them when they still are going against the intended trade as they are much cheaper, but timing is always an issue because you want to be close to the reversal, but still able to take advantage of the momentum that discounts the premium.