Trading suggestion: Sell SPXS and SOXS
Now that the market has fallen substantially, I think we’ve reaped the bulk of the potential profits on our recent purchase of Direxion Daily S&P 500® Bear 3X Shares (SPXS) and Direxion Daily Semiconductor Bear 3X Shares (SOXS). My recommendation is that investors sell these two inverse market ETFs. Sell.
I believe there will be plenty of opportunities to trade bullish and bearish ETFs in the coming weeks, as market volatility continues. I will leave those decisions to you.