SPXS, SQQQ, TZA & LABD – Time to Tread Lightly
If you’ve been riding the short side with me, here’s a word of advice: don’t overstay into this capitulation.
Risk-reward in the short term is starting to lean bullish into next week, imho. All inverse are now at historical high ATR% multiple from 50-MA, also coinciding with a parabolic +300% ATR move in $Cboe Volatility Index(VIX)$ at open right now.
Try my profit taking strategy below via scaling out 30% of net size into strength into every new ATR multiple high of your position beginning today, and prepare your warchest for a potential quick 'pain trade' against the shorts, potentially next week before CPI Thursday.
$Direxion Daily S&P 500 Bear 3X Shares(SPXS)$ $ProShares UltraPro Short QQQ(SQQQ)$ $Direxion Daily Small Cap Bear 3X Shares(TZA)$ $Direxion Daily S&P Biotech Bear 3x Shares(LABD)$
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