Anyone Bottom Fishing Buying SOXL with Me?

[murray t turtle]

All this discussion over putting $1k to work in SOXL? Isn’t 1k a rounding error for most here?

i like it more as a trade than a long-term position. Agree with others here that the momo is down , and correct me if I’m wrong- i think the fees/decay on SOXL are relatively high

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OK good point;
+ correction, the SOXL fees are about average=0 .99%, about the same as SPXL, upro,vxx+ SPXS,spxu.[--15% move in a day is high/LOL]
Looks like you may right on a lot of stuff being down\downtrends.
SPY has a 0.09% fee,so maybe thats what you mean........

 

[murray t turtle]

In SOXL $39 again. Target $49. Stop loss $0. Using the gain from today to risk it.

View attachment 277959

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THEY are buying it off the Don Channel/ i have a starting order in on SOXL + LABU[as of SAT2/12/2022] And the elephants are buyin' it around 200dma/selling it in the 70s.....................................
I'm wanting back in UPRO, SPYG, but have no orders in as SAT.
XOM looks great on 52 week chart;
stopped by XOM today. Lots of investors buy XOM for super dividend, easy could hit $100.777[It did in 2013\2014[ One reason i do business with XOM, tend$ to beat Shell Oil on price/LOL+ i rememeber one XOM station was rich enough to give free tire air, when the rest were charging change.............................................................................................
My spxs + SH did/doing better than SPXLposition \ so took profits off SH.

 

[RedSun]

The thing is that, if we get a fat return YTD, then we can get a fat stop loss tolerance. A narrow stop is not good for trading.

 

[deaddog]

A narrow stop is not good for trading.

Works like a damn for capital appreciation.

 

[murray t turtle]

The thing is that, if we get a fat return YTD, then we can get a fat stop loss tolerance. A narrow stop is not good for trading.

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Good timing on SOXL/my LABU start order got hit, SOXL\not yet.
A tight stop i dont like mostly except for SPYG,SSO[spyx2] sometimes SPY, splv....................................
IF i tried to use a tight stop on TQQQ[not in now] or soxl i would be wasting my time.

 

[RedSun]

Sold some for rotation purpose. Still hold some for my target.

This is a good example of swing trading. To me, it is easier than day trading.

 

[murray t turtle]

Sold some for rotation purpose. Still hold some for my target.

This is a good example of swing trading. To me, it is easier than day trading.

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ALMOST always easier, + sometimes more profitable than exit @ 3 CST.
Planned on a soxl swing trade+ if the VXX type trades went as planned , may have kept it.
So sold soxl/sso later in day @ profit+ back in today,soxl. May get back in LABU, even though its about 90% off HI/LOL..................................... Good 10 year +weekly uptrend on SMH,soxl,IWM/related

 

[RedSun]

Swing trading offers far better freedom than day trading. With a 2% stop loss (in another thread), you'll have to keep a tiny position if you day trade SOXL.

No matter how we trade, before I send the order, always get a plan and know why you make that trade. A $10 gain is still good even if the target was $200.

 

[murray t turtle]

Swing trading offers far better freedom than day trading. With a 2% stop loss (in another thread), you'll have to keep a tiny position if you day trade SOXL.

No matter how we trade, before I send the order, always get a plan and know why you make that trade. A $10 gain is still good even if the target was $200.

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Exactly/SOXL \LABU+ many sector, leveraged sector ETFs swing 10% per day[LABU 7.77% last i looked.] A planned swing position trade, can be turned into a day trade if it gets to wild.LOL

SOXL is doing better than LABU,year to date, glad i did not get in LABU again. SOXL has better long term chart than LABU