With Stocks Looking Very Tired, This ETF Could Make A Run (SJH)

“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), so this leveraged ETF could be an effective tool to gain from a downturn in those stocks. On May 13, at $18, I targeted (NYSE:SJH) for a quick trade is $22 to $25. On June 8, at $24, I said, “But now, with the broad market on the edge of a major breakdown, the target is raised to $28 to $32.” Although SJH ran to $26, we missed on the higher price. Now, with stocks looking very tired, SJH could break through its 50-day moving average for a run to $24. But don’t stay with this one very long. Taking profits is prudent — then wait for a better buying opportunity. 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,” Sam Collins Reports From Investor Place.

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