ProShares UltraShort Semiconductor ETF (NYSE: SSG) — 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 investors.
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