You never make prodictions that you can not control. We will see $4 again. I suspect that a test of the 50 and 100 day moving average will not hurt. The good news is just about 50% of the fund trade in the last 2 or so days.
I am kind of happy about the correction. I still need to lock in some cheap Calls.
Do you all understand how this ETF works? You can't really see support/resistance of a 2x ETF. It follows the DJR on a DAILY basis. Look at that chart or IYR. And they are both way up and will fall soon with the rest of the market. You are not going to see $5 a share. Mark this post. GLTA.
I'm becoming a true believer that we have found ourselves a new support level of around $4.00. I kept watching it this afternoon thinking that if it cracks $3.99 it will drop like a rock and it never did.
Today was a great day for URE, though volume was on the low side. Good volatility between $4.00 and $4.22.