It started as a kid with one share of stock. People told me that was harmless, but then I moved on to mutual funds, then more stocks, stronger stocks, then darkness enveloped me as I discovered the inverse ETF during the crash. I was losing my family, my job and just when I thought things just couldn’t become darker, Drixeon invented the 3X ETF.
Suddenly, I was on street corners all over Wall Street bidding for the likes of FAZ, BGZ, DRV, TQQQ, and SOXL. I was selling everything to satisfy my habit, jewelry, cars, my house. It was s downward spiral that could only be satisfied by more 3X ETF’s. Soon I was jonesing for 4, 5 and yes, even 6X ETF’s, but alas they stopped at 3.
You see, the SEC was busy trying to figure out what an uptick rule was, it took all their manpower, and all of these inverse ETF’s were spawned and blessed in the dark of night. A demon of trading was created during their fog of incompetence.
If you’re a newer trader, not only should you not be trading this market ( you can learn a lot by just watching this fiasco), don’t trade inverse ETF’s. You will be gone in a heart beat, but you are all adults so have at it if you must.
They work for me as day trades ONLY.