The SSO Beats them All
All praise the SSO. That would be the ProShares Ultra S&P500 (SSO) which gained 4.14% today or $3.54 to close at $85.54. Why buy individual equities when you can just buy the S&P 500 and be rewarded for the double the movement.
The SSO is now only 4.68% below its 52-week high. Stocks marched higher today and the SSO rewarded patient investors who were waiting for a bounce.
It is just as the Architect predicted late last month:
Despite the looming Government shutdown, I'm betting on U.S. equities bouncing 2 to 3% next week. I'm willing to risk it using the ProShares Ultra S&P500 (ETF) (SSO) for a decent size 20% of assets stake.
Analysts grew cautiously optimistic that lawmakers in Washington, D.C. will be able to craft a deal to raise the debt limit ahead of the October 17 deadline the Treasury Department has set. President Barack Obama will meet with Democratic and Republican leaders on Thursday afternoon in the hopes of forging an agreement. The S&P 500 gained 2% and that was incredible for the SSO, double the take with a 4% move.
Expect stocks to swing on the media coverage and spin of the U.S. Goverment potential Shutdown. CNN is not helping the panic with their bullshit Shutdown Clock.
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