NRGU - UPRO - Beware The Ides Of March

• UPRO is a leveraged ETF that offers investors daily investment results that correspond to three times (3x) the daily performance of the S&P 500 Index.
• The ETF is down more than -54% year to date.
• We believe we just saw the "fear" leg of this structural bear market unfold and we are due for a technical bounce.
• We feel P/E ratios are going to move toward their historic average of 15x and there is also weakness to come from earnings.
• We expect another -10% leg in the S&P 500, therefore this should translate into another roughly -30% move for UPRO after the current technical bounce.

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