TP 30% on 3x ETF Chinese Stocks (YINN) + Holding Alibaba🥰 | Bad Feeling on Tonight US Data Releases 🚨
$Hang Seng Index (800000.HK)$ $Hang Seng TECH Index (800700.HK)$ The opening of Hong Kong Index was not bad, turned from -2% to highest almost +4%…but I feel like the volume is not as strong as it was few days ago so I took profit from 30% portion of my $Direxion Daily FTSE China Bull 3X Shares ETF (YINN.US)$ with 10% profits while holding $Alibaba (BABA.US)$ 😊
I don’t have a good feeling on tonight’s data to be honest🚨Feel like market really needs an excuse to go down before climbing up to another high…Most of the Magnificent 7 stocks seem to be weak like $Apple (AAPL.US)$ $Alphabet-C (GOOG.US)$ $Tesla (TSLA.US)$ $Microsoft (MSFT.US)$ $Amazon (AMZN.US)$ …These 5 stocks don’t have any fuel to be boosted up and yesterday market saviour was literally depends on the performance of $Meta Platforms (META.US)$ and $NVIDIA (NVDA.US)$
Actually $NVIDIA (NVDA.US)$ also don’t have any fuel to be boosted up, seems so difficult to go thru 127-132 resistance🥲
Also, don’t forget that the first Friday of last 2 months was a huge drop as well during Unemployment Data and Non Farm Payroll Releases day if I’m not mistaken 🚨
Earning Season is coming as well, any miss on estimation is a huge drop, considered market is at all time high now🚨
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tuanle07 : Next Tue will see a boost of volume when mainland China is back from their week long holiday. Better not sell before that.
Anthony 27 OP tuanle07 : You might be right but I think sold 30% Portion with 10% profits is not bad since I only bought like yesterday, not even 24 hours yet
73694204 : Is this etf tracking Hong Kong stocks or A shares?
Anthony 27 OP 73694204 : I think it’s tracking Hang Seng Tech Index but I’m not sure
but what I can see is if Hang Seng Tech Index or Hang Seng Index up, this will definitely 3x
Macdonell J Anthony 27 OP : YINN is a 3x leveraged iShares China Large Cap ETF (FXI) that tracks the FTSE China 50 index. Components of equities are mainly the large capitalisation stocks listed on HKEx.
Anthony 27 OP Macdonell J : Thanks for your info…Appreciate it