As noted on Twitter, on Friday I bought SDS several times throughout the day. I ended up with an average price of $20.25.
This is the first time this year I’ve had a short position of any significant size.
I have not had time yet to run studies modeling the past week, but I believe that it was such a rare move that there will not be much to compare it to.
My gut says we continue to rally, but I believe that we will have to get some sort of a pullback or consolidation early next week. I don’t plan to hold the SDS for more than a few days.
Happy 4th of July to everyone!
Bought SPXU at the close – 100% agree.
SDS and SPXU track much better then most inverse ETF’s.