Direxion Daily Semiconductor Bear 3x Shares

Long

geez. long semis much?

Updated

its been a hell of a couple weeks for the semiconductor stocks. weve blown through resistance with a vengence, and pretty much havent stopped for anything. the problem is the rest of the stock market hasnt responded with the same bullishness. just like i was in soxl coming off the top of the channel, im now in soxs coming off the bottom of the channel.

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this is just outlining where that former wave is and what similarities im expecting

sorry for the crude method

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take the regression use this trend line and trailing stop strategy right now im stopping loss at 24.49

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so whats it gonna take to change my mind and believe in this breakout fundamentally? well i need to see the weekly rhs complete and follow through, but if you ask me about the base reasoning in specific equity im looking at replacement cost, and its relationship as a quotient to profit over assets. i want to know if this reinvestment in the space is paying off, or if it was too early.

if we get equillibrium were up in 2024, and if we get anything else were down.

Trade active

so im returning long if we close this 5 mins bullish or im staying out if we flip/signal indecision (nonevent maybe)

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nvda is up but the market and smh are down... just saying.

Trade closed manually

im tired. im not dealing with this spread. im not enjoying the aftereffects of my trades. im not interested in picking a direction with this. im out completely until we calm down and pick a direction daily.

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so if you look at diluted outstanding (not available on tv) youll find the spike actually happened during the last pop of the bounce before the drop that led us here (around vertical line)

now we have another inflection point with the lens of that judgement through finding a delta cypher thats actually diverging bullishly again
im prepared for a huge drop in soxs if this underlying theme of rate of change drop coinciding with spot breakout, and that means soxl could do $44, and the interesting thing is we can revisit hourly oversold conditions or former resistance levels and still be quite bullish

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i think the best plan right now is follow the money long semis

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aiming 15 min bull to close

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targeting 15.87

Trade closed manually

gonna wait for this to sort itself out for now im still tentatively long semis

cerealpatterns

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by cerealpatterns

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