I shorted up two more leveraged 3X ETFs yesterday the Direxion Bull and Bear ETFs, $NAIL and $CLAW. Like most of the things I trade, I have no idea if these are going up, down or sideways, I am in the trade for the decaying effects of daily rebalancing.
A word on these ETFs. They aren't really the best idea from one standpoint, in that they are very illiquid and have pretty big bid and ask spreads. If you move in out of them a lot, the spread will be very damaging. Therefore, this really needs to be a long term play.
I hope to pretty much never cover this pair, and have them both decay to practically zero. But I don't know if that will happen. Life gets in the way sometimes.
I'm thinking of converting this strategy to a pay service through MarketFy. Of course, it would be helpful to have some positive history.
Good luck and good trading. The usual disclaimer applies.
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