R
Jul 17 at 10:24 AM
$Direxion Daily Semiconductor Bull 3X (SOXL.US)$ got shredded as the PHLX semi index fell 2.6% and the 3x turned that into a much bigger loss. this is exactly the tape leverage hates, a sharp sector down day. i scalp it intraday only, never hold overnight, and definitely not through a week where TSMC capex and CXMT glut fears are whipping the whole group. the decay plus this volatility is an account killer. respect it.
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