$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ 106.14SOXL is up 2.15 points, or 2.1%, in overnight trading but has pulled back from the 108.30 overnight highs. SKHY is up 2.4% and DRAM is up 1.9%. Honestly, they should just rename DRAM to YOYO because it keeps going up and down, down and up. You wait for it to finish going down, then you hop on and it goes right back up. Watching SKHY, DRAM, MU, SNDK, and the others. When the sector rallies, SOXL rallies. When they dump, SOXL dumps.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ There's a chance we don't see a rate hike. I know the probability is high, but if there isn't one, I can see a surge rally. Either way, I just don't think a rate hike does much to SOXL at this point. It's been priced in all week.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ Hiking 25 bp is pointless. The 2 year treasury is already at 4.7 and restricting nothing with inflation still running hot. This is still a bull market, same action as back in March before the big move up.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ Jim, I'm one who can prove you wrong. I bought 10,000 shares on October 11, 2022. I rode it up to $70.00, then back down below $8.00, and never sold a single share. I have now sold a third of my position, some at $225 and some at $250. We will see higher highs.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ 107.05, down 14.70, or 12%. It kept sliding in early trading after the overnight drop, and the open looked rough. Hopefully the selling gets flushed out quickly, with a chance for a rebound during the day session.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ 5% position here. From this level, I think the target could be 20%. Keeping an eye on it. Indexes are all super green right now, and you can hear the "rate hold" narrative starting to build.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ The same algo pattern showed up in March this year. It was followed by a huge spike. The crash up is the new crash for this market. It doubles down rather than pulling back.