What may happen soon?
Now you can hear everyone’s excitement and greed in many communities - here included.
I am not surprised that SOXL will hit 200MA and potentially upper Bollinger band because of the current hype.
Now, think. Few days ago, some of us were very anxious because of the lag from a spike in Nvidia, which made me write a post as below…
And think again, it doesn't make sense… Although I have zero knowledge of fundamentals (as mentioned in my profile), I don't think there was any major good news about SOX (please correct me in the comments).
I genuinely think that the SOXL can hit the 200+ MA and upper bolinger band very soon.
And that's mispriced for sure.
It’s already touched on the 4-hour chart, but honestly, a 4-hour chart is not perfect for an absolute climax top when there is so much greed here.
What am I going to do?!
I am looking for a misprice on my SOXL options, as above, and would sell partly again—probably in the 12.5-13.00 range; I am not sure of exact values yet.
Again, once it becomes mispriced, it will get a correction. I believe in the Bull trend, so I would say it may pull back to the mid-Bollinger band or around there. It is unlikely to be the bottom Bollinger band for this month, but I don't know, maybe? This is where I enter again for my big option trades just like other times.
I am openly DCAing $Direxion Daily Semiconductor Bear 3x Shares ETF (SOXS.US)$ simultaneously, as a risk hedge.
So when ?!?!
I think of few potential patterns.
1. SOXL will be mispriced on Thursday (Today), and it will start get correction from Friday.
2. SOXL may hit on Friday, then next Monday is the correction.
3. all happens in next week or so.
But even I know that more semiconductor related reports coming from next week and onwards.
So I think its probably the first scenario, where it would hit 200+MA today and will get correlation on Friday and the first few days in the next week then it would bounce back.
Whats your plan going forward? let me know.
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花开富贵被重名 : Dear, my goodness, your analysis is really wonderful, I have decided to follow your advice, I will buy SOXS and wait for its days to come.
ひな☆彡 SOXL(Bull) OP 花开富贵被重名 : Dont buy it yet, buy when SOXL mispriced
花开富贵被重名 ひな☆彡 SOXL(Bull) OP : What price is suitable to buy, dear
ひな☆彡 SOXL(Bull) OP 花开富贵被重名 : Buy it when SOXL hits the 200MA or upper bolinger band. Indicators values are dynamic, it will keep changing. I am not going to hold SOXS much longer, only for about 4-5 days.
花开富贵被重名 ひな☆彡 SOXL(Bull) OP : 谢谢
Mrkay95 : what is 200 Ma stand for?
The Bunny Trader : I believe SOXL should reach 45-48 dollars before the end of October
ひな☆彡 SOXL(Bull) OP Mrkay95 : Moving average
ひな☆彡 SOXL(Bull) OP The Bunny Trader : Yes I am also culprit of hyping it up. I still think so as well