long-bias gap up today 1/3, in case of reversal this week I'll day & swing trade VIXY SDOW SPXU SPXS TWM TECS LABD ERY (just bot a bit of SDOW VIXY SPXU TWM SPXS premkt 1/3) went all cash fri end of year re wash sale mgmt, won't trade faves UVXY TZA SQQQ (+FAZ SARK) etc til early feb given bad covid news over weekend im suprised mkt gapped up; will fade as usual if drops ps still confident my bear etf santa/grinch calls will hit by 1/31
Leveraged short ETFs will be MONSTER for those who catch them early in the BIG decline. Worth the effort to keep them in mind. (Odds are you won't catch it... the market is very good about making you miss... especially tops. But hey, if you're thinking that way, at least you've got a chance.)
From Dec. 17th : " Despite contango/decay, I am now going to hold my inverses from now through at least end of January, I am in 20k worth of UVXY TZA SQQQ SCO KOLD VXX SOXS SRTY SARK etc. because I think a major correction is imminent. I will martingale in once they have gone up 10% or more. Goal is to be in 200k worth if there's a major drop, by Jan 31st. "
Post up when signs of strength hit these charts? https://stockcharts.com/freecharts/candleglance.html?SDOW,SPXU, VIXY, TWM, SPXS, TECS, LABD, ERY, UVXY, TZA, SQQQ, FAZ, SARK, SCO, KOLD, VXX, SOXS, SRTY https://stockcharts.com/freecharts/candleglance.html?SARK,SCO,KOLD,VXX,SOXS,SRTY|B|0
Yep,those will work. Now all I need is a working crystal ball to tell me WHEN and how far it's gonna drop.
As a rule of thumb I like to buy or scale in when whatever I'm trading ends the day at a 2day high, eg like F and OXY today.
That is because he hates the layman. He LOVES watching people lose their retirement funds just so he can make a few sim bux.