Stocks Bounce up goes the SSO
ProShares Ultra S&P500 (ETF)(NYSE:SSO) increased 2% today while the S&P 500 inched up 1%.
The SSO could be back on its way to a new 12 month high. The SSO closed at $105.32. The 12 month high for the SSO is $108.35. The pullback appears to be only temporary and there are many bulls betting stocks keep running higher.
Cramer doesn't usually celebrate declines, but he says these are a relief.
"The slate of recent IPOs has overwhelmed the stock market," Cramer said. "The declines in the stocks of newly public companies suggest to me that the market is, finally, becoming a more rational place."
Wall Street posted its first gains in four days on Tuesday as traders cautiously scooped up some beaten down growth stocks. The encouraging sentiment persisted into Wednesday after Alcoa (AA), the aluminum giant, revealed adjusted earnings that topped expectations. Other earnings on tap this week including banking behemoths JPMorgan Chase (JPM) and Wells Fargo (WFC).
Bottom line: Instead of risking your money on indivdual stocks go with the true winner if stocks increase, the SSO.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Market Recap Nov 25, 2015 | FundMyMutualFund
- It’s Official – Biggest Nino Ever – Killer La Nina to Follow | Financial Sense
- Pardoning The Wrong Turkey? | ZeroHedge
- Unexpected Surge In Auction Demand For 7 Year Treasury | ZeroHedge
- President Obama Explains Why Americans Should Keep Calm & Spend Amid Global Terror Alert - Live Feed | ZeroHedge
- Malinvestment Lunacy Exposed As US Money Supply Growth Finally Begins To Crack | ZeroHedge
- Why We’re Sliding Towards World War | ZeroHedge
The most relevant financial news and articles from the Internets
- Spieth gets all the tough questions at the Australian... | Business Insider
- FIFA ethics committee seeks life ban against Michel... | Business Insider
- Why female meteorologists all over the country are wearing the same $23... | Business Insider
- Water bears are huge DNA thieves: study | Business Insider
- Afghan army in rescue bid for Taliban chopper crash... | Business Insider
- Obama admin says states lack authority to block refugees | Business Insider
- Coe faces difficult questions at IAAF meeting | Business Insider