Direxion Daily Large Cap Bull 3X Shares (NYSE: BGU) — This exchange-traded fund (ETF) seeks investment results equal to 300% of the daily performance of the Russell 1000 Index. Since it tracks large-cap stocks, it has matched the pattern of other indices like the S&P 500 and the Dow 30.
On Aug. 26, I said, “Yesterday [Aug. 25], it performed a key reversal, much like the indices. Also like them, it triggered a buy signal from our proprietary Collins-Bollinger Reversal (CBR) indicator.
“Initially, look for BGU to close the gap between $42.22 and $43.07. Then it could jump to the 50-day moving average at $45.75, and even to $50.”
BGU has achieved all targets, and with the major indices at resistance, it is time for traders to cash in their profits — NOW!
This leveraged ETF is a very volatile and speculative vehicle that is only appropriate for those willing to be disciplined traders. It is not suitable for investors. Check with your broker regarding stop-loss policies and margin requirements, which are usually 100%.
If you have questions or comments for Sam Collins, please e-mail him at samailc@cox.net.
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