DIG

Go Gas and Oil! Summer driving season is upon us, time to go long the best in breed in the sector which includes Valero Energy Corporation (NYSE:VLO), Exxon Mobil Corporation (NYSE:XOM), and ProShares Ultra Oil & Gas (ETF) (NYSE:DIG).

The Dow Jones got up to 10,495 this morning thanks to big oil leading the charge, Exxon Mobil (NYSE:XOM) and friends are ripping higher today, the ProShares Ultra Oil & Gas (ETF) (NYSE:DIG) is up 4% as investors turn to oil, commodities, and gold. 

Stocks are on fire today thanks to oil, commodities, gold and sales of existing homes increasing 10.1% in October, according to the National Association of Realtors.

Looking to place a safe bet?  Everyone is, and a ton of money went into buying the world's largest publicly traded company Exxon Mobil (NYSE:XOM).  If you don't want to pick a single oil stock, go with the ProShares Ultra Oil & Gas (ETF) (NYSE:DIG).

Investors are worried about Earnings season, add to it the decreasing global energy demand and oil falls below $50 a barrel today, the ETFs to play are DIG and DUG.

Oil rose above $50 a barrel today as as Kuwait and Qatar indicated they will implement supply cuts announced by OPEC last month.  Then there's that whole thing about Russia cutting natural gas shipments to Europe.

OPEC agreed today to reduce production by 2.2 million barrels a day, the largest cut ever done by OPEC, they are doing everything to prevent oil prices from falling.

The average cost of gas per gallon right now, $1.75, the lowest in 5 years, good thing we all freaked out this summer, unbelievable.

Oil heads back above $70 after Saudi Arabia, the world's biggest oil exporter, has reduced exports by around 900,000 barrels per day from a peak in August.

The FT Reports: "Output from the world’s oilfields is declining faster than previously thought, the first authoritative public study of the biggest fields shows.