In a webinar Hilary Kramer and I hosted last week to talk about the election and the market, we received a lot of questions about exchange-traded funds (ETFs). They are clearly hot right now, and a lot of the post-election trading dollars have made their way into ETFs.

A lot of people think of ETFs as boring, slow-moving index investments. And that is true in some cases, but definitely not all. Some are great short-term trading vehicles, especially leveraged ones that move almost like options.

We have a category for these in-and-out trades in our ETF Trend Trader service, and one we like right now is a play on a short-term bounce in China. The emerging markets — China included — have struggled during the Trump Rally as a higher U.S. dollar and interest rates have hurt. The downturn has created a nice set-up for a quick bounce, and one way to trade a potential rally in China stocks is the Direxion Daily China Bull 3x Shares ETF (NYSEARCA:YINN). This is a leveraged ETF that moves at three times the FTSE China 50 Index, which consists of the 50 largest and most liquid Chinese companies on the Hong Kong Stock Exchange.

We like that the ETF is sitting on important price support around the $15.35 area (black line) as well as the 200-day moving average (blue line) at $15.26. A bounce from support could send the ETF back up to the $18 area, which would be a nice quick gain.

Matthew McCall is founder and president of Penn Financial Group, an investment advisory firm. Matt also is Editor of FUTR Stocks and the ETF Bulletin. Earlier this year, Matt and Hilary Kramer teamed up on Breakout Stocks and ETF Trend Trader where Matt serves as the Co-Editor. Most recently, Matt and Hilary joined forces again. This time, they are helping individual investors make money trading ETFs. For more on their latest project, visit www.etfedgesummit.com.