Swing Trading leveraged ETF's is a hustle, but be careful.
$FAS has entered the oversold position and has started a reversal.
This is the leveraged version of $XLF which is an ETF for banks. Swing trading leveraged ETFS can be very profitable, but I am usually looking for a possible 20-30% upside potential. What I do not like about it is that there is not a lot of upside potential if it continues to meet resistance at its previous two highs of the $39 dollar mark. That will give you only about a 6% return on $FAS and that is not a terrific opportunity. Keeping life simple, you always are looking for simple swing trading opportunities, there is an opportunity, but not one I am jumping into. The market looks weak, but no one can predict a downturn. You do not need to jump at every pullback and on this one I am out. According to my trading style it is a swing trade possibility, but I am not comfortable with the risk vs reward.
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