There are 68 exchange traded funds down at least 20 percent year-to-date. Underscoring the weakness in the previously high-flying biotechnology sector, 10 of those 68 ETFs are biotech funds.
In other words, these should be go-go for inverse biotechnology ETFs such as the Direxion Daily S&P Biotech Bear 3X Shares (NYSE: LABD). LABD attempts to deliver triple the daily inverse performance of the S&P Biotechnology Select Industry Index, the same benchmark tracked by the SPDR S&P Biotechnology ETF (NYSE: XBI). XBI is the third-largest biotech ETF by assets.
As has been previously noted in this space, traders' bullish biases often get in the way of success with leveraged ETFs. Arguably, leveraged ETFs such as LABD and its bullish ...
/www.benzinga.com/general/biotech/16/06/8138580/traders-get-it-right-sort-of-with-leveraged-biotech-etfs alt=Traders Get It Right (Sort Of) With Leveraged Biotech ETFs>Full story available on Benzinga.com
More...