ProShares Ultra Russell2000 Value (NYSE: UVT) — This leveraged ETF seeks daily investment results that correspond to twice the daily performance of the Russell 2000 Value Index (AMEX: RUJ).
On March 5, UVT broke from a complex quadruple-top that had taken over six months to develop.
On March 15, I noted the breakout and targeted UVT to a run to $28 to $30. It actually made it all the way to $32.
In the last month, UVT has pulled back to its original breakout at $24 where those who are bullish on the stock market may want to buy this high-performing ETF with a target of $30.
Note the stochastic buy and how it rallied from its 200-day moving average.
A word of caution: This is “for traders only,” as the SEC has determined that “ultra funds” are not good long-term investments and are most appropriate for short-term trades. Because it carries greater risk than an ordinary ETF, be sure to use a stop-loss. Finally, the margin requirement for most leveraged ETFs is 100%, but check with your broker before entering an order.
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