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5X Gain … or Pain? Here’s What Happened with This Exchange-Traded Product

Look at the performance of Leverage Shares 5X Long U.S. Tech 100 ETP … in just six months

by Bob Stokes
Updated: July 19, 2022

The world of investing is filled with so many vehicles that it can be difficult for an investor to keep up with all of them.

One such investment vehicle was introduced in mid-December of 2021 and the timing of its introduction caught Elliott Wave International's attention.

I'm talking about the Leverage Shares 5x Long US Tech 100 ETP -- the symbol of this exchange-traded product is 5QQQ.

Our January Elliott Wave Financial Forecast called its introduction a sure-fire sign of a top and added:

This "financial innovation", in and of itself, marks the gateway into a long bear market. The damage it will do to investors during the decline will be measured by the extent of the losses, which will be extreme.

Our July Elliott Wave Financial Forecast provides an update with this chart and commentary:

FiveTimesPain

This chart of the performance of the Leverage Shares 5x Long US Tech 100 ETP gives you an idea of what we were referring to [in January]. It's now down 92% since the peak on December 30, 2021, just six months ago.

And, speaking of investment vehicles which were introduced in 2021, here's another.

This chart and commentary are also from our July Elliott Wave Financial Forecast:

NFTindex

The chart shows the NFT Index, which originated on March 20, 2021 to track the price of these tokens. The index is down 90% from its high. On April 8, when the NFT Index was down 60% from its peak, a new standard was devised to measure the performance of only the very finest NFTs.

Now is the time to learn what our Elliott Wave Financial Forecast is saying about the major stock indexes -- like the Dow Industrials and the S&P 500.

Is it possible that even these widely traded vehicles could experience declines of 90% or more?

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