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Direxion Daily Semiconductor Bear 3x SharesDirexion Daily Semiconductor Bear 3x SharesDirexion Daily Semiconductor Bear 3x Shares

Direxion Daily Semiconductor Bear 3x Shares

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SOXS trade ideas

SOX: Semiconductors may experience sell off soonWhile most people consider the semiconductor shortage to be bullish for semiconductor stocks I believe there is a serious case for a bear scenario. With the supply chain this heavily disrupted it is possible that while margin will be high on individual sales the number of sales is lower considering the variance in the types of semiconductors that need to be purchased for different products as well as the increased competition that is going to exist between Semiconductor Manufacturers. To profit off of this thesis I will be purchasing SOXS Periodically until I believe the move may complete. I am viewing this as an ABC correction on SOX. High valuations need to be supported by revenue and next earnings will betray the earlier semiconductor stock boom that was spurred on by Covid.
AMEX:SOXSLong
by myceliium
3x inverse funds as a contrarian indicator3x inverse ETFs let you use leverage to bet against stocks. This chart shows the 14-day Money Flow Indicator (MFI 14) on a 3x inverse semiconductor fund (SOXS). SOXS is an inverse leveraged bet on the SOXX semiconductor ETF, which is also shown on the chart. Interestingly, the flow of money into and out of SOXS has often been a contrarian indicator of where SOXX is headed. SOXS gets big inflows just as SOXX hits bottom. It gets big outflows just as SOXX hits top. If you do the opposite of whatever SOXS traders are doing, you can do pretty well. SOXS made a peak on Friday that may imply that SOXX has bottomed and will begin to move up. Short SOXS or long SOXX would be the play here.
AMEX:SOXS
by ChristopherCarrollSmith
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