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After Yesterday's Rally of 2.25% Shares Could Potentially Pullback

By David Diaz

ProShares Ultra S&P500 (AMEX:SSO) traded in a range yesterday that spanned from a low of $66.14 to a high of $66.68. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $65.78 on volume of 1.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for ProShares Ultra S&P500 and will alert subscribers who have SSO in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, shares of ProShares Ultra S&P500 have traded between a low of $49.31 and a high of $138.00 and are now at $66.24, which is 34% above that low price. The 200-day and 50-day moving averages have moved 0.15% lower and 1.02% higher over the past week, respectively.

Keywords: rebounders amex:sso proshares ultra s&p500

Ticker(s): SSO