text: Experts pick their favorite cheap stocks
  Get ready for your retirement
  Join the NASDAQ Community today and get free, instant access to portfolios, stock ratings, real-time alerts, and more!
  Japan has undoubtedly been one of the most interesting stories
  in the investing world over the past 10 months. The country was
  long thought to be stuck in a malaise, though with the election
  of Shinzo Abe in December, Japanese stocks markets began to take
  off, while the yen plunged.
  For a while in 2013, Japan was easily the best performing
  major market, posting gains in excess of 25% for the first
  quarter. However, this did not last as Japanese stocks have since
  crumbled, losing over 10% in the past one month time frame,
  calling into question the longevity of the new Prime Minister's
  programs (see
  Inside the Crash in Japan ETFs
  ).
  Given this rocky situation and extreme volatility, many
  traders have likely been having a field day with the Japanese
  market as of late. After all, the country is home to an extremely
  liquid market, while the big daily moves have made short-term
  opportunities pretty widespread.
  Yet for investors looking to make a short term, leveraged play
  on the market the options are few and far between. Currently
  there are only two such products on the market, the
  ProShares Ultra MSCI Japan Fund (
  EZJ
  )
  and the
  UltraShort MSCI Japan Fund (
  EWV
  )
  .
  These two offer up daily resetting leveraged exposure to the
  broad Japanese market, targeting the MSCI Japan Index. EZJ
  focuses in on 200% exposure, while EWV plays the other side of
  the trade, giving access to -200% returns of the benchmark (also
  see
  The Key to International ETF Investing
  ).
  While these two have seen more interest lately, the duo hasn't
  exactly caught on with investors; less than $100 million is in
  the space combined. However, with the level of volatility now in
  the Japan market and the prospect for big moves in the country
  continuing this summer, two new entrants in the space from
  Direxion could attract a new crop of investors to the space.
  New Direxion Funds
  Direxion, one of the leaders in the leverage and inverse ETF
  market, has just unveiled a pair of Japan
  ETFs
  that employ triple leverage. These two look to give investors
  daily resetting exposure to the MSCI Daily TR Net Japan USD
  Index, with the
  Direxion Daily Japan Bull 3x Shares (JPNL)
  using 300% exposure, and the
  Direxion Daily Japan Bear 3x Shares (JPNS)
  utilizing a -300% return (also read
  Understanding Leveraged ETFs
  ).
  The underlying benchmark for the pair are quite spread out
  with consumer discretionary taking the top spot at 21.7%,
  followed closely by financials (20.3%), and industrials (18.7%).
  Both also look to charge investors 95 basis points a year for
  this exposure.
  "We conduct market analysis on a constant basis to identify
  new opportunities in various regions and sectors for investors
  who have confidence about the direction of those markets. We see
  great demand for liquid exposure to Japan," said Eric Falkeis,
  President of Direxion
  in a press release
  . "With these new 3X bull and bear funds, Direxion is excited to
  be able to allow investors to express an opinion on the economic
  dynamics taking place that are affecting the Japanese equity
  market."
  How do they fit in a portfolio?. Japan has been on quite the
  roller coaster ride as of late, with popular Japan ETFs like
  EWJ
  and
  DXJ
  seeing moves in excess of 4% (both positive and negative) in
  single day sessions pretty frequently (read
  DXJ vs. DBJP: Which is the Better Hedged Japan
  ETF?
  ).
  Adding on 3x leverage to this situation-which makes 4% moves
  turn into 12% moves-could result in some very hectic days for
  risk-tolerant traders, but also the potential for big profits (or
  losses). Given this, these new Direxion funds could attract a
  great deal of interest from short-term traders, so long as the
  Japanese market remains in focus, and volatility levels stay
  elevated in this important?