ProShares UltraShort Semiconductor ETF
) - This exchange-traded fund (ETF) seeks daily investment
results that are twice the inverse of the daily performance of
the Dow Jones U.S. Semiconductor Index.
After falling from a high of over $90 in February 2009, this
inverse ETF appears to be forming a solid bottom.
In early May, it broke through its bearish resistance line and
for three months it has been consolidating between $15 and $19
under a compound top. A break through the top should launch SSG
to the $24 to $26 zone and could even change the long-term trend
of this ETF.
But this is an "ultra" ETF and, thus, very speculative since
leveraged ETFs entail unique risks over periods as short as a
single day. Results can be affected substantially by compounding,
and returns over longer periods will likely differ in amount and
even direction of the underlying.
These products require active, daily monitoring and
management. The SEC warns that they are not suitable for all
investors and are especially not suitable for long-term
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