“The ProShares UltraShort Russell2000 Value ETF (NYSE: SJH) — This fund seeks daily results, before fees and expenses, that correspond to twice the inverse of the daily performance of the Russell 2000 Value Index (AMEX: RUJ). The recent market decline has had a strong focus on financial instruments, which comprise 80% of the assets of the Russell 2000 (RUT). This leveraged ETF could be an effective tool to profit from further downside in those stocks,” Sam Collins Reports From OptionsZone.
Collins goes on to say, “On May 13, I targeted (SJH) for a quick trade to $22 to $25. But now, with the broad market on the verge of a major breakdown, I’m raising the target to $28 to $32. Note the huge accumulation, a new stochastic buy signal, and the penetration of the bearish resistance line. This is a speculative, leveraged ETF that is primarily suited to day trading. Be sure to check for any special margin requirements and, recognizing the high risk of this trade, place a stop-loss order at the time of execution.”