Leveraged ETFs Explode With Market Monday 3-23

Monday 3/23/09: Dow +497 (6.8%)@7776, S&P +54 (7.1%)@823, Nasdaq +98 (6.8%)@1556

Well, we got confirmation that the market buys into the new government plan to deal with toxic assets. Did you see some of the gains in the leveraged funds today?

The 3x ones from Direxion: FAS +41%, TNA +26%, ERX +23%, BGU +22%

Some of the 2x ones from ProShares: URE +30% (SRS -30%), UYG +25% (SKF -30%), UVT +18%, UWM +17%, UYM +12%

You're now getting maximum benefit of these funds without having to worry about individual stock picking.

Disclosure: currently long FAS (financials) and ERX (energy stocks)