ERX: Stay Away
Thesis Summary
The Direxion Daily Energy Bull 3x Shares ETF (ERX) seeks to track 3x the daily performance of the Energy Select Sector Index and consists of domestic energy companies from the oil, gas, and consumable fuels and energy equipment and services sectors.
The energy segment is under stress since winter-spring 2020 and is not showing signs of a healthy recovery. Investors should avoid investing in this ETF for the current period. Both the sector and the fund are in decline. The industr…
