$Direxion Daily Semiconductor Bull 3x Shares ETF (SOXL.US)$ ...
$Direxion Daily Semiconductor Bull 3x Shares ETF(SOXL.US$ 43.82 daily short-term resistance. 37.68 daily short term support. Wednesday depending upon the economic number is going to determine the direction we're either going to go right up against the resistance or we're going to fall back down to probably 38 and 1/2 level. if we hit the 38 and a half I'm going to sell some 37 puts that expire on the may 17th to collect the premium. the following week is NVIDIA which is going to Gap this index up or cause it to shit the bed instantaneously depending upon their Outlook and if they exceed the high bar by raising everyone's forward guidance or if they're short on their upward guidance. if there's any weakness whatsoever we're going to be south of 37.68.. I suspect it to be around 36 35.5 pre-market. and I will be a buyer long and I will sell out of the money puts probably around the 32 and a half 33 strike I have to see where it is at that time.. hopefully it's the former Nvidia knocks the cover off the ball in which case this etf is going to be 45-46 on the open... either way it's going to be a high anxiety week and a half coming up.
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35+ yrs in the trenches, raised tens of millions for start ups, syndicate ipo's, yrs on trading desk mkt maker.
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Salmon Klein : is this one the best performimg ETF in semiconductors? i am looking for one and just found this index. thanks
10baggerbammOP Salmon Klein: it's a leveraged ETF you have the base index which is a one-to-one movement. this is a bullish leveraged ETF so when it goes up things are great when it goes down it can be very painful
Salmon Klein 10baggerbammOP: i see, sounds good for swings or puts/calls. right now may not be best time to get in? as is coming up strong
10baggerbammOP Salmon Klein: it does have options on them so you can write covered calls you can sell naked puts. if that's your intention some of the ETFs out there do not have options. as far as deciding when to enter that's your choice we have nvdia on the 22nd which is going to move the market significantly one way or another.
Salmon Klein 10baggerbammOP: bloody nvidia...what do you think is going to happen? earnings good all that fine, but wjat about guidance? is the AI bubble taking a break. honestly, right now, AI tools are great, but there is a huge room for improvement in all aspects...I am bullish on it but i went for AMD a bit cheaper option hehehe