Sam Collins

UltraShort MSCI Emerging Markets ETF Breaking Through

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UltraShort MSCI Emerging Markets ProShares ETF (EEV) -- This Exchange-Traded Fund (ETF) seeks daily investment results that correspond to twice the inverse of the daily performance of the MSCI Emerging Markets Index (EEM).

The fund normally invests at least 80% of assets in financial instruments with economic characteristics that should be inverse to those of the index.

This very volatile fund has broken up from a double-bottom with a break-away-gap for a target of $83 (its 200-day moving average).

All Ultra shares carry more risk than other ETFs because they are designed to double whatever their corresponding index does -- both up or down.

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Sam Collins is a registered, fee-based portfolio manager who may be contacted samailc@cox.net. You can also check out an archive of some of his most recent market outlooks by clicking here.