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EDC Shows Opportunity in Emerging Markets
08/07/2009 12:01 am EST
Direxion Daily Emerging Markets Bull 3x Shares (EDC) - This exchange traded fund (ETF) seeks returns of three times the daily investment results of the price performance of the MSCI Emerging Markets Index. Therefore, it is only suited for the trader who is willing to take a risk with the protection of a stop-loss order.
The trend for EDC is now very bullish. However, the short-term trend is on a sharp angle up, so it may be subject to breaking that line and retracing half of its move from $70 to $110.
Bulls can take a position with a stop-loss order at $100, which would close a gap at $102.92 and reverse the near-term trend.
However, if the buying continues, the trading target for EDC is $130.
Editor’s Note: Traders and investors, keep in mind that 3X ETFs present significant opportunity and risks. These ETFs should be traded on a short-term basis only (preferably intraday) and only using trading funds you can afford to lose.
By Sam Collins of OptionsZone.com
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