Ballard Power (BLD) was the top price gainer in Canada today, lifting the Energy Sector higher. Ballard gapped up 50% at the open after announcing an $80 million deal with Volkswagen at about 7:00 p.m. EST. After initially falling back slightly, it tacked on another 14% or so in the afternoon session.
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The price of crude fell at the open after it was announced that US oil inventories rose sharply from last week and on top of that, Iran and Iraq announced lower crude prices for the Asian market. Despite that, the price of oil had almost recovered by the end of the session. Below, the 2-minute intraday chart of the 2X leveraged HOD crude bear ETF shows the indecision of the market whether to hedge oil positions or not to hedge.