This fund moves twice the movement of the S&P 500, and pays a small dividend (0.61%).
ProShares Ultra S&P500 (SSO)
From Cabot Growth Investor
The S&P 500’s market’s action thus far—even during its recent wobbles—has dipped just a couple of percent from its recovery highs and has been nearly what you’d expect if we’re in a new bull trend.
That doesn’t guarantee anything, of course, as a Cabot Tides sell signal could usher in a deeper pullback. We could go to Hold if the Tides turn down or, if things get hairy, even sell a piece of our oversized position. But until proven otherwise, we’re still going with the evidence (a batch of new leadership, our bullish Cabot Trend Lines and the blastoff indicators in January and February) that points to the market having formed a major bottom late last year and is now in the early stages of a new bull phase.
Hold on if you own some ProShares Ultra S&P500 (SSO), and if you don’t, we’re fine grabbing a position in this leveraged long fund (it moves twice the S&P 500, up or down, on a daily basis) here.
Michael Cintolo, Cabot Growth Investor, www.cabotwealth.com, 978-745-5532, March 28, 2019