Energy, Long, short, leverage, bio, pharma, reits, any one of them.
Name me ONE!!!
If you bought these etfs, you may have been right about the market direction but the managers control the price of that ETF.
It was never about the market or its direction.
It was all about the profit for the FUND, from the Retail money.
You've been had.
what he's telling you is, these ETFs are scams.
Most of us KNOW this already.
He really needs to TELL a SECURITIES ATTORNEY.
People on this board are just trying to make some extra cash.
True.. Exactly true.
But there are limits, and a 96% loss over the last 6 months far exceed the limits.
Even us daytraders need to hold for a few days. The losses we take in decay over a few days forces us to be right 100% of the time, and that's not going to come even close to happening.
No.. Direxion has went overboard. Both FAS and FAZ are horribly negative for the year. FAS at 63% and FAZ at 96%. These types of numbers show either gross negligence, or near criminal behavior.
Will they Decay? Sure.. they all do. Should they decay to the point both sides are horribly negative for the year? No.. that's going way too far.
Not one - because of - DERIVATIVES - HEDGES - FUTURES - OPTION -
Most of the 3x and 2x ETFs state in plain ENGLISH that there is risk involved due to the leverage in DERIVATIVES CDS.
Most of the CDS and CDO have been punished and unwound, the risk was highest when the banks were about to go under...the FED TARP money was used to unwind these CDS and CDO's the proxy index funds were blasted at the same time...
i think Direxion ETFs performance is so poor mainly because they are only a few months old. and during that time ...welll...you know whats been going on with the markets.
ProShares performance since inception are much much better. and they decay too.