Direxion Daily S&P Biotech Bear 3X Shares (LABD)

[THREE-DAY-TRADER]

I would not buy this on gap up (especially over 22.00) right before the Fed minutes are posted.
Anything could happen. Sure, the gamble could pay off & it goes sky high yet more, but it's best to place buys(trades) where risk/reward is most likely favorable & not so strongly dependent on data/news that you can;t easily predict.
Here now before FOMC with the LABD gap up 2 days over 23+ is just a coin flip.

I'd rather sit on sidelines and see if it pulls back (& if XBI holds 61+)... 'Error on side of caution'.
That way I' don't lose if I'm wrong on the 'gamble' after the FOMC minutes.

I've seen so many instances on these types of funds where people buy right before an FOMC event and get killed when the result wasn't in their favor (and even worse risk if you are buying on a gap upward leading up prior to the FOMC event result)