Could This Be The Right Chip ETF Right Now?

Related: 5 Best-Performing Leveraged ETPs Year-to-Date

The upcoming third-quarter earnings season will present potential tests and opportunities with the bearish SOXS and its bullish counterpart, the Direxion Daily Semicondct Bull 3X ETF (NYSEArca: SOXL). SOXL tries to deliver triple the daily performance of the PHLX Semiconductor Index.

From Oct. 15 through Oct. 26, nearly 47% of the components in that major chip index report earnings, according to Direxion data.

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