I wrote yesterday about the profit possibilities from investing in leveraged ETF’s. Well, last night one of these ETF’s, USD, popped up in my scan of possible buys. USD aims to move 2X as much as the Dow Jones U.S. Semiconductor index. USD may be bouncing off of support, as long as it holds above $38. If I bought it I would exit below $38. The weekly GMMA chart below shows that its underlying index has an RWB pattern, typical of rising stocks. I became interested in the semiconductor sector because eight of these stocks hit new 52 week highs on Tuesday (CAVM,STM,OMNN,ATHR,NVEC,XLNX,EZCH,ASMI). As I indicated to you in yesterday’s post, it may be easier to invest in the leveraged ETF for a sector, rather than trying to pick the right stock. Let’s watch USD and see how it does.