Last month when I purchased DBA, I was looking for someplace liquid to park assets while participating in any upside inflation. Unfortunately, I have been underestimating ETF futures roll expenses for DBA, JJG, and DBC. Thus, I was willing to exit my DBA position today (at a manageable $50 loss) to fund a new position.
The new position is a field bet on oil producers and servicers. Oil markets seem to have a structural tightness to them that are unlikely to ease in the near future. Furthermore, energy serves as a real asset by correlating to inflation. Today I purchased producers XOM & CVX and servicers SLB, BHI, & HAL, all of which have at least a four star rating from both S&P and Morningstar. To hedge my equity correlation exposure, I took a negative equity position by shorting SSO (this trade accumulates to my existing SSO short position).
Top Five is updated to reflect for the changes in SSO and DBA.