Quote:
Originally Posted by Hisam135i
Really? no one said anything about yesterday hahaha
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lol, my co-worker is in a 3x leveraged SP500 ETF, he got his ass handed to him yesterday (i think about a cool $10k loss). 3 trading days ago, I told him that the direction is unknown at the 1590 level, and that I'm staying in cash to see what the momentum will look like. Lucky for him, there's not enough vol in a broad market index for him to eat a major decay for this leveraged ETF.
Last week's Fed Minutes, China data and economic releases all were contradicting each other in terms of continued asset purchase direction and economic strength.
The only part I regret is not buying into yesterday's close. Today's push up looks great in terms of a 1 day gain. This 1550-1560 level seems reasonable to me for the rest of this month.