Ultra S&P 500 Position

I am still holding the Proshares Ultra S&P 500 (SSO) shares with a little bit of a profit. Adding to my position on the first day of the two day down movement lessened my profit but both the initial purchase and the additional purchase are profitable at this time. I plan to begin looking for some individual stocks that are breaking out of a trading range with good earnings and revenue forecasts in decent industries. The stocks need to have an upcoming earnings announcement but nothing too soon as I want to profit on the position before the earnings announcement and then sell the position shortly before.