As Clint Eastwood might say, "Are you feeling lucky?"
At a time when many investors are hoping for a bottom in this year's plummeting stock markets, Direxion Funds says it's ready to come out with eight new leveraged and inverse exchange-traded funds. (See charts below).
But these ETFs won't just offer a bit more juice. They're set to become the first to offer three-times the leveraging power of their underlying benchmarks.
Direxion says that the eight 3x leveraged ETFs should launch on Wednesday. They're part of some 36 in the works. (See related story here.)
"Do you have an opinion on the direction of the market? Maybe you are interested in overweighting or under-weighting a certain sector. Direxion Shares powerful 3x leverage (the highest in the ETF and mutual fund industry) seeks to amplify the performance (positively or negatively) of your investment capital by 300%," said the company in recent marketing material made available to investors....MORE
HT: Abnormal Returns