Yo Squid: I don’t expect that you’re still out of the market. With last night’s devastation (all US indices down 5%), and the Dow down over 600 points in the past 3 days, you should be making a killing. I regret having sold my SRS (200 a couple weeks ago, then down to 120 or so, and now shooting back up around 180). But I do have some EEV, which bets against emerging markets and gained 15% last night. Wooohoo. Too bad that only partially offsets all the losses.
Anyway, I was thinking of you when I read about Direxion’s new funds, which I’m sure you’re familiar with: 3X inverse leveraged ETFs, intended to earn 3X the amount when the indices are down. Of course, that means if the markets go up, these funds will go down 3X that amount. Here’s a few articles for anyone with nerves of steel, willing to take a gamble on them:
Had Enough Volatility Yet? Direxion Set To Launch 3X Leveraged ETFs
New Direxion Triple Leverage Funds: Proceed with Caution
Their 3X inverse small cap fund, TZA, for example, gained almost 20% last night.
Their 3X inverse energy fund, ERY, gained over 24% last night. Not bad for a day’s work
