$Direxion Daily Regional Banks Bull 3X Shares ETF (DPST.US)$...

$Direxion Daily Regional Banks Bull 3X Shares ETF(DPST.US)$ so let's do an update on this little landmine. week and a half ago I had a nice trade and then I bought some more when we had an inner day reversal and it's been nothing but downhill since. I did sell a call collected a premium last week that I disclosed.  the banks all have come under pressure as a group all of the major Banks Goldman Morgan Chase they all have been hammered in the past 3 weeks and the regionals also have come down quite significantly. this is directly correlated to interest rates and when will there be a cut which is ironic because there's two sides to Banks when interest rates are high they make money because many depositors stay in checking accounts with no interest so the banks capture that spread the downside when interest rates are high is you have a lower origination on mortgages so refinancing virtually is eliminated when you have high rates right now and home sales are still strong but on the margin they have declined because rates are higher the cost to borrow is more people afford less. so these stocks all have come down and relative to 3-year window on a valuation basis looking at a basket  covid mkt crash when the market tanked hard. banks as a group about 70 cents on the dollar to book value. roll the clock forward. silicon valley Bank crash period of time and valuations were 80 cents on the dollar. we got up to about 1.2 book it was as a basket so slight premium to book and now we're back down to 90 cents on the dollar.. what this means is and I'll use an analogy I remember one of the guys I worked with is a stockbroker in the late 80s.. he would tell clients this thing's like a coiled spring it's under so much pressure that any good news and you know what happens to a coiled spring don't you?  so yeah my friend Sean who used that in his presentations when he's pitching client stocks they're ready to make a massive surge higher on any favorable news about inflation slowing about unemployment continuously going up something to indicates a Fed rate cut.