$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ SOXL did really well today, but I noticed the volume is still off by about a third. A bit surprised the volume wasn't higher, especially since SOXL dipped into the $190s.
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ closed at 231.85, up 16.26 points, a gain of 7.5%. When it dropped under $200 in the morning, I had a feeling that could mark a low for $Micron Technology(MU)$ / $SanDisk Corp.(SNDK)$ , especially now that we're three days past MU's earnings. MU is down 1.3%, SNDK down 3.6%, and DRAM down 1.75%, but they've all rallied off their lows. There's been a strong move in SMH, led by AMAT's 12% jump on an upgrade, which is helping boost SOXL. SOXL seems like it just wants to keep pushing higher. It's already above where I thought it might find a bounce ($225). Maybe it's waiting to see MU / SNDK turn gre
A few key events to keep an eye on. Quarter-end rebalancing in the U.S. runs from June 26 to 30. Some outperforming stocks get trimmed, while underperformers see additions. This seems to be why chip stocks are facing some selling pressure and the Mag 7 are seeing accumulation. However, once the quarter-end window dressing wraps up on June 30, the flows tend to reverse starting July 1. South Korea's National Pension Service (NPS) is suspected of reducing about $1B worth of domestic equities that had incredible gains over the past year, during June 16-23, to work toward the maximum cap for domestic holdings. This is expected to continue in the coming months. NPS says the timing and amount of rebalancing is confidential but will be done to minimize market impact. This means chip stocks, parti
$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ Today, the share price could reach unexpected heights. The ball is in the short sellers' court, but if they don't act soon, they could face significant losses.