$Direxion Mid Cap Bull 3X Shares (MIDU.US)$ if you bought th...

$Direxion Mid Cap Bull 3X Shares (MIDU.US)$ if you bought this ETF then you need to read this. we are up against a resistance on The daily Bollinger band the highest level on the weekly we are up against resistance. this factors in the Gap up this morning at $56 that is a long line going back months. 90% of all trading occurs between the upper Bollinger band which is moving average and the lower Bollinger band. so statistically 9 out of 10 times it's going to consolidate and you'll have profit taking.. if you choose to hold my strong suggestion is you sell a covered call against your position. the unfortunate truth is that we have option expiration tomorrow so you could collect a little bit of premium if you sold low level 60 strike or if you went out to October but you're going to have to sell a one month contract if you don't do tomorrow's. that's a long period of time frame and I think the reality is this basket May roll over more than the premium then you're going to collect. I'm taking some profits on this ETF.. I'm going to maintain about 1/3 of the position that I bought. and that is going to be maybe I'm wrong and maybe it breaks out at least I have a piece of the action still alternatively if it does consolidate with profit taking next week I will have secured some profits in the interim and I can rebuy at lower levels