The biotechnology sector has been on fire thanks to news from Biogen Inc. BIIB. The FDA approved its controversial drug that can treat Alzheimer’s Disease.

Not surprisingly, there have been big moves by many of the stocks in this sector. Aggressive investors have been buying the Direxion Daily S&P Biotech Bull 3X Shares ETF LABU.

This ETF seeks the daily investment results, before fees and expenses, of 300% of the performance of the S&P Biotechnology Index for a single day.

If the index continues to move higher, LABU should move by about three times as much. But it goes the other way, too, and investors need to exercise caution. If the index heads south, LABU will fall by about three times as much.

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