Home Forums Members Forum SPXS—Sean, what are your latest thoughts?

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  • John StewartJohn Stewart
    Participant
    Post count: 14

    Thank you in advance!

    John

    Trey JohnsonTrey Johnson
    Participant
    Post count: 23

    I am interested know as well. Cheapest price I have seen. I know it bleeds off value but just curious if this is something to put a small amount of money with the looming correction.

    Sean HymanSean Hyman
    Keymaster
    Post count: 4557

    Shorting an uptrending market is one of the toughest, most dangerous things you can attempt. Shorting after a rally upward within an overall downtrend is less risky than “top calling” which almost no one can successfully do.

    And I now like UVXY better than SPXS. It doesn’t erode quite as bad on the downside, yet has great upside. But what I said above, still stands. I’d not suggest shorting an uptrend.

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    matt andersonmatt anderson
    Participant
    Post count: 10

    I learned my lesson buying January 20 puts on FB & IWM back in May, thinking the crash in April was wave A. Now I have to roll them out at a loss. Won’t do that again!

    Sean HymanSean Hyman
    Keymaster
    Post count: 4557

    Yep. The natural inclination is to try to short tops. However, almost no one can call a top or bottom ahead of time. So it’s best to let the market turn and start with the “lower highs” of the new downtrend instead. With buying calls/buying puts, it’s best to stick with the overall momentum of the prevailing trend.

    AvatarClarence Gilstad
    Participant
    Post count: 30

    Have been watching SPXS and was wondering about the chances of a reverse split? what triggers them.
    THANKS
    Clarence

    Sean HymanSean Hyman
    Keymaster
    Post count: 4557

    When the price per share gets so low, sometimes they’ll decide to vote to do a reverse split. Direxion, the owner of that ETF would decide when/if they did that.

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