Market Summary

The chart below shows the wild swings the Ultra Crude Oil ETF UCO has gone through over the last few months and the large 8.9% move it made on Friday. The unrest in Egypt has led to a swing high in the price of oil and this ETF is double leveraged moving two times on a percentage basis as the price of oil. Clearly the trend is up and now price is above the 50 day moving average and looks to be headed higher. Click on chart to enlarge.

The table below of ETFs followed sorted by best performing ETF on a weekly basis shows AGQ the ultra silver ETF did the best on a one week percentage change basis up 3.01% but the real story is that it was up 7.70% on Friday as the market may have stopped its decline and begun a reversal to the upside. How this plays out we will just have to wait and see. Click on table to enlarge.