The Technical Swing model managed by Michael Arold uses technical indicators and movements in the market to determine which equities to add. As a short-term model, the goal is to take advantage of short-term price swings. On November 2nd, Arold added Apple Inc (NASDAQ: AAPL) to the model. AAPL had a low of $307.00 on November 2nd and a closing price of $309.36. The next day, AAPL’s closing price had risen to $312.80 and has gone even further since then.
Also on November 2nd, Arold added ProShares Ultra Basic Materials ETF (UYM). UYM attempts a return that equals 200 percent of the Dow Jones U.S. Basic Materials Index. On November 2nd, UYM had a low of $40.36 and closed at $40.69. By November 8th UYM’s low was $43.26 and its closing price was $44.39. On November 10th it was trading at a discount to NAV.
On November 4th Arold added ProShares Ultra Russell 2000 ETF (UWM) to the model. UWM attempts to mirror 200 percent of the daily results of the Russell 2000 Index. UWM’s low price on November 4th was $36.69 and its closing price that day was $37.40. On November 5th UWM climbed to a closing price of $37.83 but has since repeatedly closed lower (CL Note: As of November 9th). On November 10th UWM was trading at a premium to NAV.
*All prices used in this post obtained from Yahoo! Finance.
