ProShares Ultra Financials (
This exchange-traded fund (
) seeks daily investment results that correspond to twice the daily
performance of the Dow Jones U.S. Financials Index.
For six months, UYG traded within the confines of a rectangle
at $5 and
On March 11,
, "Following a period of very high accumulation, this ETF appears
to be breaking from a
with supporting evidence of the break coming from the crossing of
the 50-day moving average by the 20-day moving average. If
successful, the target for a trade in UYG is $7.25 to $7.50."
For those who bought UYG and made a profit, it is time to cover.
This ETF could go higher, so perhaps a trailing stop is best, but
there is never anything wrong with taking a profit.
Keep in mind that this "ultra fund" carries greater risk than an
ordinary ETF. The SEC has determined that ultra funds are not good
long-term investments and that they are most appropriate for
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