Opinions
Mike Philbrick
ProShares UltraProShort S&P 500
SPXU-N
RISKY
Nov 15, 2022
As a hedge in a bear market? By definition, this is a short, but magnifies the S&P losses on a given day by 3x. This can be a useful ETF and you don't need to allocate much capital to it, because of the 3x mechanism, but this ETF is HIGHLY volatile. You have to manage this each day.
$15.230
Stock price when the opinion was issued
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COMMENT
Technical analysis does not work for a stock like this. The best thing to do is to actually look at what is driving this, in this case the S&P 500. You are going to get whipsawed all over the place with this type of product. This is not a long-term hold. He would not be using technical analysis on this product.
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