Well, if you can believe markets, it looks to me like the market voted NO on Global Warming… GWO is a stock ticker for a fund that invests in stocks that make up the “Credit Suisse Global Warming Index”. GLD is gold, so you have a reasonably stable ruler (at least compared to dollars that can be printed) while XOM is Exxon Mobil Corporation.
Despite a collapse of oil prices from over $120 to under $40, XOM beat the pants off Global Warming. And Gold beat the pants off the U.S. Dollar…
Volume has dried up to a few hundred shares a day (100,000 a day is my personal “lower limit” for a stock that is too thinly traded to have a liquid market. For comparison, XOM trades 28 MILLION shares on a bad day with spikes to 80 MILLION share days during the last year.)
“Money Flow” is exactly what it sounds like. Where is the money going, in or out? After a brief run in when GWO was first offered, it was pretty much all money running out again as quickly as it could. In contrast (not on this chart) XOM has had money flow strongly inbound for most of the last half year.
So, at least in terms of the stock market, the “vote” seems to be fairly strongly against the AGW “Global Warming” thesis. Add to that the utter defeat of Yet More Taxes in California today, and the “support” for Cap and Tirade or any other carbon Tax has a very uphill battle.
Interestingly enough, Credit Suisse ( the issuer of GWO) doesn’t plan to delist it for lack of interest (yet):
“In March, Credit Suisse pulled three of its four ETNs off the New York Stock Exchange, citing a lack of assets. It added that there was no plan at the time to delist its fourth ETN, the Elements Credit Suisse Global Warming ETN (NYSEArca:GWO – News) “