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DIREXION SHARES ETF TRUST

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SOXL trade ideas

$SOXL - semiconductors Bull 3x gonna explode soon $SOXL #SOXLAs we expect the boom in the sector in the upcoming years related to the worldwide shortage of semiconductors I thought it could be a good idea to buy this ETF instead of specific stocks. This way I can track what's going on in the industry and stay with the position without the need to rebalance all the time. Keep in mind: 1) NVDA (which is 7% of ETF) will have a split in June (typically bullish) 2) AMAT, LRCX - other strong companies of the sector are on the edge of a breakout 3) Technicals are strong, above all SMAs except 20 (this gonna happen soon as well) 4) Crazy runners like LEDS also related to semiconductors
AMEX:SOXLLong
by trickykid
SOXL Back to 40 - HODL for ComputexThis week semiconductors have been outperforming and I believe they will continue to outperform into computex, then the news will either be dumped, or we will continue to analyst consensus, then get dumped. Positives: Computex is on May 31st, new products from most chip companies incoming. Today Bank Of America and various other banks, maintained overweight and buys on Micron , Intel and NVDA . Further AMD announced 4bn in share buy backs. In Chart a trend based fib, shows a support at this level. MACD is about to cross green. Concerns: Cisco crashed on earnings today. CN continues to threaten TW so TSM and most of the industry is at risk, also in general the market has been bearish since late February. There's a chip shortage, but it's mostly too much demand. SOXL has been stuck in a sideways movement, being bought in US, sold overnight. Though SOXL is meant to be a daily trade so this is reasonable...
AMEX:SOXL
by Chaython
1
SOXL 3X Semi - Unusual Volume $2M+ traded for $42 strikeAMEX:SOXL $2M+ in premium traded for $42 strike calls for Friday May 21th 2021 expiration traded today. Unusual Options Volume Activity for $80 calls about 9000+ contracts traded through out the day (Above Open interest of only 1162) from $2.10 to $2.50 Various semi conductor stock earnings coming up soon. Bounced off 50 EMA Today on the daily showing downside support. CCI is also trending up going from bearish to bullish after being sold through out the day. Nice hammer on the 4H chart A Months time on these options I would recommend a vertical spread to keep theta at bay. Wait for confirmation of break of the $40.00 level for upward trend and possibly a close above this level to start a position. Enter using $40 or $41 calls around trigger as theta burn will be less once ITM. Or consider a vertical. Exercise caution when entering 3X ETF as they tend to move rapidly to the down side on any pullback. Support 50 EMA $38.55 Trigger $40.00 Target 41.44, 42.44, stretch target of 43.45 SL close below 50 EMA Follow more unusual activity signup for a free trial using my referral link marketaction.live Please let me know in the comment if you find this useful.
AMEX:SOXLLong
by marketaction_live
1