FAS is a triple leverage ETF, the fund seeks daily investment results, before fees and expenses, of 300% of the price performance of the Russell 1000 Financial Services index. As a long-term investment vehicle, this ETF is not great due to re balancing erosion. For short-term traders, this product can offer exposure to a market leading sector.
FAS has experienced the same downside pressure as most other tradable equities in the last two weeks. The financial sector is one of the weakest performers so far ytd, FAS recently crossed over to a negative return.
Looking at the chart below you should take note of the broken triangle pattern ….
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