ProShares Ultra Oil & Gas (DIG) — This Exchange-Traded Fund (ETF) seeks daily investment results which correspond to twice the daily performance of the Dow Jones Oil & Gas Index.

On March 20, with DIG at just under $22, the Trade of the Day said, “Although the index is still in a down-trending consolidation, demand for crude oil and precious metals could drive DIG higher. A break above the 50-day moving average at $24 would likely lead to a test of the recent highs at $31 to $33 and even to a run up to more than $50.”

Not only did DIG break above its 50-day moving average, but it broke out of its consolidation and appears headed first to the 200-day moving average at $40 and then north of $50.

Get Sam Collins’ Daily Trader’s Alert e-mailed straight to your inbox each morning before the opening bell absolutely FREE!

In addition to getting instant access to his Trade of the Day, you’ll also receive, in the same e-mail, his Daily Market Outlook so you can start your day off right by positioning yourself for profits!

Click here today to sign up today for Sam’s FREE Daily Trader’s Alert!

Sam Collins is a registered, fee-based portfolio manager who may be contacted samailc@cox.net. You can also check out an archive of some of his most recent market outlooks by clicking here.