05/17 – ETF Trading – SPY, SSO, XLF, UYG

Good morning. I have a couple of etf trading ideas for today. We’ll take up to 3 trading positions.

Put SPY on your etf watch list. Take an initial position should this etf close lower today. For a leveraged trade, consider SSO.

Also, for a sector play, put XLF on your watch list. For the leveraged trade, consider UYG. Take an initial position should these close lower today.

SPY – The SPDR® S&P 500® ETF is a fund that, before expenses, generally corresponds to the price and yield performance of the S&P 500 Index.

SSO – ProShares Ultra S&P500 seeks daily investment results, before fees and expenses, that correspond to twice (200%) the daily performance of the S&P 500® Index.

XLF – The Financial Select Sector SPDR® Fund, before expenses, seeks to closely match the returns and characteristics of the Financial Select Sector Index.

UYG – ProShares Ultra Financials seeks daily investment results, before fees and expenses, that correspond to twice (200%) the daily performance of the Dow Jones U.S. Financials IndexSM.

All trades are at the market close. Please trade responsibly. These etfs are moving closer to their 200 day moving averages – trading can be a bit more erratic.

Join me every day as I offer new etf trading ideas for you to follow.

Updated charts:

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Can’t make a trade? Let Warren Buffett manage your portfolio – AlphaClone

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