Tech Tumble Didn't Chase Traders From Geared Sector ETF
Tech Tumble Didn't Chase Traders From Geared Sector ETF
It would be reasonable to expect that last week's breathtaking declines among marquee technology stocks and the Nasdaq-100 Index would be all the impetus traders need to abandon leveraged tech exchange-traded funds, at least for the moment.
我們有理由預計，上週大型科技股和納斯達克100指數(Nasdaq-100 Index)的驚人下跌，將是交易員放棄槓桿式科技股交易所交易基金(ETF)所需的全部動力，至少目前是這樣。
What Happened
怎麼了
With the likes of Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT) punished last week, the Direxion Daily Technology Bull 3X Shares (NYSE:TECL) felt plenty of pain, too.
TECL looks to deliver triple the daily returns of the Technology Select Sector Index, making it an easy target for downside when Apple and friends retreat.
Tecl希望交付三倍於每天的回報科技精選板塊指數(Technology Select Sector Index)的下跌，使其很容易成為蘋果和朋友撤退時的下跌目標。
Why It's Important
為什麼它很重要
“I think we should start to anticipate a rotation—the momentum behind tech is going to ease,” Seema Shah, chief strategist at Principal Global Investors, told the Wall Street Journal. “As we’re seeing easing lockdowns and the prospect of a vaccine, people are beginning to go back to a more normal way of life, and reliance on tech is starting to fade from the peak where it was at the height of the lockdown.”
“我認為我們應該開始預期輪換--科技股背後的勢頭將會緩和，”信安全球投資者(Trust Global Investors)首席策略師西馬·沙阿(Seema Shah)對英國“金融時報”表示。《華爾街日報》。“隨着我們看到封鎖的緩解和疫苗的前景，人們開始迴歸到更正常的生活方式，對科技的依賴也開始從封鎖最嚴重的時候開始消退。”
That may be the case over the near-term, but data suggest traders didn't go running for the hills with TECL amid the tech pullback. They did the opposite. Month-to-date, inflows to the leverage tech ETF are approaching $42 million.
短期內可能會出現這種情況，但數據顯示，交易員並沒有在科技股回落的情況下與Tecl一起逃之夭夭。他們做了相反的事情。本月到目前為止，槓桿科技ETF的資金流入接近4200萬美元。
That's not a massive sum, but it says traders are convinced tech's early September retreat is a bump in the road, not cause for ongoing concern.
這不是一個大數目，但該公司表示，交易員們相信，科技股9月初的回落只是前進道路上的一次顛簸，而不是引發持續擔憂的原因。
TECL could be starting to get its groove back. Yes, the geared fund is lower by a staggering 23.17% over the past week, but it surged 9.28% on Wednesday on volume that was roughly 60% above the daily average, providing another sign traders that stick by the fund are being rewarded.
Tecl可能正開始找回最佳狀態。是的，槓桿式基金在過去一週裏下跌了23.17%，令人震驚，但週三它飆升了9.28%，成交量比日均水平高出約60%，這是堅守該基金的交易員獲得回報的又一跡象.
What's Next
下一步是什麼？
Over the course of tech's ascent this year, retreats have been brief and rebounds rapid, scenarios that amplify the risk of holding a leveraged fund like TECL for more than a few days.
在今年科技股的上漲過程中，撤退的時間很短，反彈速度也很快，這些情景放大了持有Tecl這樣的槓桿基金超過幾天的風險。
Speaking of risk, some bold traders aren't shying away from making bearish bets against the beloved tech sector. To start September, nearly $10 million has flowed into TECL's bearish cousin – the Direxion Daily Technology Bear 3X Shares (NYSE:TECS).
説到風險，一些大膽的交易員並不迴避做空備受喜愛的科技板塊的押注。從9月份開始，近1000萬美元流入了Tecl看跌的表親-這個Direxion Daily Technology Bear 3X S野兔(紐約證券交易所：TECS).
Interestingly, traders have been tempting fate with the bearish TECS for most of this year as highlighted by 2020 inflows of almost $97 million.
有趣的是，在今年的大部分時間裏，交易員一直在用看跌的TECS冒險，2020年流入近9700萬美元的資金突顯了這一點。