“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. This leveraged ETF could be an effective tool to profit from further downside in those stocks,” Sam Collins Reports From Options Zone.
“On May 13, I targeted (NYSE:SJH) for a quick trade to $22 to $25. And on June 8, I said, “Now, with the broad market on the edge of a major breakdown, the target is raised to $28 to $32. Note the huge accumulation, a new stochastic buy signal, and the penetration of the bearish resistance line.” The target is still $32, but note that the market is currently oversold and due for a bounce. It would be prudent to take profits here and wait for a better buying opportunity,” Collins Reports.