Unfortunately, the SOXL:SOXS chart appears to be flipping once again today.
I received a email from Surfer overnight. For 'The Right Direxion' strategy, SOXL has fallen out of favor. LABU is the new favorite. LABU:LABD is the pairing.
I paired SOXL and LBDU together, and if you draw a sloping line through the 6 month chart, it is a downward sloping line, which means LBDU is favored. But by how much cannot be quantified in this manor.
I am uncertain what my next move will be just yet. I may do nothing today, and look all this over this weekend, and possibly do something on Monday.
As I write this, SOXL is at ~150, representing an approximate 6% loss for me from 159.25. Painful
FYI, The Right Direxion Strategy has disappeared from the Surfer Hall of Fame ETF section. I did replicate it as one of my paid strategies a while back, so I still have it, and am using it.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.