In the short-term TECL does not seem to be like a good trade. Yo you should really check out awesom-eSTOCKS, they seem on point with their stocks.
Modern Market Manipulation 101...
Alright investors, I've warned you that the markets are manipulated, now I'll show you how they do it with these 3x etfs...since we know the SEC is corrupt and has allowed these bs products to trade for years at the retail investors' expense.
Now if you look at the right, you think you're holding securities AAPL, Alphabet, MSFT, Facebook, etc. However, these are the securities that are being manipulated. Let me show you where...on the same page look to the left, click on the daily holdings button with the 4 bars on it. Download the TECL Daily Holdings CSV (in excel). Expand the columns so you can see each instrument. If you format the market value to $'s, you will see how much of this fund is really hot air. Basically, you're getting a Goldman instrument (no surprise here as Goldman is in every sector). You're getting some sort of Morgan Stanley treasury account, a Fidelity Institutional Government portfolio (looks like this is where the auction rate securities ended up), a Dreyfus Treas prime cash mgmt investment, a Bank of NY Cash Reserve, a Technology Select Sector SPDR Fund and of course, the Weapons of Mass Destruction - the Technology Select Sector Index SWAP. The total value of the WMD Swap is $553,835,500 or approximately 71% of the total market value of all the securities. I consider this a WMD because the SWAP is unregistered and tied to an unregistered index, making it one half of a combined unregistered derivative which controls the market value of this "pubic" Company. In short, you're getting some bank accounts, government debt (old auction rate securities), some Goldman investment (since these are the guys manipulating the market) and this b/s unregistered SWAP.
Stephanie Hunsaker of the SEC once said private must stay private and public must say public. However, the SEC is going against their own words here by allowing a private SWAP derivative to control a public Company's market price. All the manipulators have to do is change the value of the SWAP to be able to set the price for the Technology Sector and then once the sector is manipulated, they then allocate these changes in prices to the instruments back at the right of this Direxion page (i.e. AAPL, Alphabet, Microsoft, Facebook etc).
This is clearly securities fraud and if we had a non-corrupt Government institution, they would seize these funds and keep any hard assets (like the cash reserve account and government debt). The SEC should not allow privately traded instruments to affect publicly traded SEC Company Companies. These are akin to private hedge funds being actively traded on the public markets.
Notice the inception date was 12/17/2008, right after the Lehman market crash and related housing collapse, so these fraudsters have been operating this as a way to generate money once the bailout had been illegally obtained (after Congress voted against it).
When the fraudsters decide these accounts can no longer make money, they will sell their positions, reclaim any hard assets and the investing public will be stuck holding the bag. Do not let these guys manipulate the US markets and sell all 3xetfs as quickly as possible. A list of all the sectors Goldman is manipulating can be found at http://www.3xetf.com/.