$iShares Semiconductor ETF(SOXX)$ $Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ $SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$ Here's my read on the recent geopolitical developments. A deal appears to be forming between Trump, Putin, and Xi. Trump is likely to support Russia and gradually reduce support for Ukraine. In return, Russia would stop backing Iran. Lavrov reportedly went to Iran to deliver that message. The Chinese want the strait open more than anyone else, including the US. A surprise deal could come together just before the midterms. If you're short, I'd rethink that position.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ After the rough stretch we just went through, the last thing I want to do is pile on the bears. Losing money is tough no matter which side you're on. I'm long SOXL and still believe in the 300+ case, but I think I trade best when I stay humble. Lesson learned. Hope everyone had a good weekend and makes some money.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ 159.24+0.33, +0.2%. Feels like we've been pushing higher all day, but still not back above 160. Memory chips were doing the heavy lifting the whole time, rallying right through all those FUD articles claiming the memory cycle is peaking.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ Not financial advice. The Fed's own data is worth checking, but rising yields competing directly with the "super intelligence" theme says a lot. Big money appears to be choosing the AI trade over bonds, and that is something too bullish to ignore.