I see no reason why anyone would short this unless they are the market maker looking for a better entry price to flip long. Everyone else, it will either go up from here on, or at the very least it will bounce back to this price from any dips. This is a relatively quick trade only, long term moves do not work on these leveraged Etfs. Tighten trailing stop more and more as it goes up to lock profits. Target I want to say $33 to $43 , but these 3x vehicles are not exact science
Trade closed: stop reached:
Not looking good here. Apparently all of the issues of the virus were completely wiped out this past weekend. Since it already had its chance to go up, then reversed, I will have to concede to closing this one at a loss. Accumulating gold instead.
Comment:
Glad I did. Wow, amazing how strong financials are here.