$Direxion Daily Semiconductor Bull 3x Shares ETF (SOXL.US)$ ...
$Direxion Daily Semiconductor Bull 3x Shares ETF(SOXL.US$ Is this etf similar to VOO or QQQ? Can hold for many years?
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Calvin123 : I just buy it because it is up trend and 3x. but I don't know what 3x actually means. Anyone can help to explain this?
70216151 : The meaning of three times, three times
pinecone Calvin123: 3x means if the NYSE semiconductor index goes up by 1%, SOXL goes up about 3%. Same deal if the price goes down. So the price swings more dramatically than the regular (aka 1x) SOX ETFs, which are $iShares Semiconductor ETF (SOXX.US)$ and $INVESCO PHLX SEMICONDUCTOR ETF (SOXQ.US)$
Calvin123 pinecone: thanks .