TwinTrader.com announces the publication of Breakout for FXP; highlighting public companies on the move and what’s behind the surge.
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“The investment seeks daily investment results, before fees and expenses, which correspond to twice the inverse of the daily performance of the FTSE/Xinhua China 25 index. The fund normally invests at least 80% of assets in financial instruments with economic characteristics that should be the inverse to those of the index…
“The recent global market sell-off has driven this ETF higher as the fund is leveraged 2-to-1 to the inverse of cash equivalent share prices of China-based companies. The Chinese market is down almost 65% from its high of 6,000 in October in the belief the global economy will suffer deflation and a marked slowdown in China…
“The chart of this ETF shows a strong breakout above $100. The 50-day moving average is now above the 200-day moving average, which is bullish. However, the RSI is becoming overbought. The spike has pushed the price of this ETF to an RSI of 71.79; and the MACD has become parabolic...”
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