Good buy, I didn't buy large just LABU, because I bought banks and oil. Sentiment is only a reference to me but not a decision I use to buy. The way I look at it is this. Overnight vix was up 12% just before market opened, this was not much, and it went up to only around 20%, when qqq dropped below daily trendline but OS, so I thought this does not look like panic selling to me, but just a drop then bounce (qqq undercut and OS, and spy just about touching lower trendline and OS) so I sold my shorts. I could be wrong, of course. One thing though is I forgot to buy SPY calls, too busy looking at banks and oil, and to close shorts.

    For XBI, is this THE low moving forward? I am not asking a question. XBI stopped at 2018 support. I am planning to hold LABU for long term, unless we get a retest of this low.

    Don't hold leveraged ETF long

    Posted by xxkumarxx on 10th of Jan 2022 at 09:11 pm

    Don't hold leveraged ETF long term especially when it is going in wrong direction you will get killed.  I do think there is up side to 32 -35. But I don't think this has turned.

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