A Chance To Buy The UltraShort Technology ETF At An Attractive Price (REW, AAPL)
“The ProShares UltraShort Technology ETF (NYSE:REW) – This inverse ETF, which seeks to return twice the inverse of the daily performance of the Dow Jones U.S. Technology Index, has been in a bull channel since early May. The top of the channel is at just over $26 with support at around $21. Yesterday’s late announcement by Apple (NASDAQ: AAPL) of outstanding earnings and revenues could result in a sharp day down for REW and an opportunity to buy it at an attractive price,” Sam Collins Reports From Investor Place. See Sam Collins’ Daily Market Outlook here.
Collins goes on to say, “But be warned that this is a very volatile ETF and is recommended only for day traders. It has greater risk than an ordinary ETF, and so investors should place stop-loss orders when investing in it. And finally the SEC has determined that “ultra funds” are not good long-term investments and that they are most appropriate for short-term trades. The margin requirement for most leveraged ETFs is 100%.”