10baggerbammOP : as a result of being higher for longer these banks are going to be marked down continuously and more than likely even through earnings why well we have seen Goldman Sachs come out with fantastic earnings and a few days after the fact that trades down and JP Morgan also well the regional Banks or not Goldman or JP Morgan so they should take a hit. it looks like $50 is where we're going to get some consolidation. I believe it'll come in it's going to touch the moving average at that point. and if I'm right I'm going to take 1/3 of my position at that point regardless of where the market is that day it could be up 200 points down 200 points if we come in at right around $50 per share I will be buying 1/3 of what's allotted why do you ask only one third. because we have Iran as an X Factor what are they going to do when is real retaliates and when and the severity. so if we have a knee-jerk reaction on broader markets where we have a 500 point down day and the banks are taken down another four or five percent I will a lot a third more to lower my cost basis. in other words average down. so there's an update I'm looking for right around $50 as my entry point and I think we should be getting there within the next week or so of trading.

10baggerbammOP : the risk today are no greater than the risks that existed two days ago or a month ago the regional banks have already gone through fourth quarter earnings and aside from the disaster that sent it in New York community Bank all of them did relatively well some of them did exceptionally well when it comes to earnings in the reserve ratios. getting back to this leveraged ETF we broke through support slightly on the daily chart right around 62 and a half dollars it could depending upon PPI tomorrow continue to about 58. I would use 58-59 as an entry point but only use half of what you traded in the past so whatever dollar amount use half. the reason is quite simple this might take a little bit longer to reverse than the last trade. additionally Friday we have two major Banks coming out with earnings that are going to set the tone I'm sure the world's going to be glued listening to Jamie Diamond and then on Monday we have Goldman so it's possible that we could have a pullback based off of the earnings of these companies and if they sell off you're going to see a sell-off with the regional Bank ETF I think you could see an absolute worst case of $48 in a bloodbath sell-off. that's where if it happens I would use the second half of your money to buy into average your cost basis down and if you did not buy in because your money was allotted to other investments and you finally freed it up when it was around the 48-49 then you're fortunate because you're going to have tremendous upside.

10baggerbammOP : the Target on this trade would be 70 to $72 it will not be as fast as the prior trade so this may require a little bit more patience in light of the CPI numbers that came out today and possibly PPI and Bank earnings on Friday and Monday but I believe the investors will be rewarded in this trade and I will be buying right alongside at those price points

10baggerbammOP : if anyone  followed my trade you're up nine points as of this morning I am selling and locking in my profit. the regional Bank ETF leverage basket has the ability to push to 77.90 that would represent the daily upper limit of resistance. with that being said I believe the short-term profit is from this trade has been realized. it may continue to push through that resistance level however just as likely as it could push we could revert back to the concern over the amount of commercial loans held by regionals and that will put pressure on the basket as a whole so I'm locking in profits and should we have a consolidation. in the sell-off I will be re-entering and I will let everybody know where the buy price is at that time... well within a few seconds of the open it hits 77.90
congrats to all who did the trade