$Direxion Daily FTSE China Bear 3X Shares(YANG)$ New kid on the block... I bought this, then sold the same day for a small loss... As a test... After studying its chart, I realised a very likely reversal pattern might be forming. When I decide to go back into taking a position, there are a couple of things that go into my decision. They might not be the same for anyone, but if you are in similar situation, you could consider taking a small position. Allow my quick sharing herein:
1) I knew there's a meeting on Saturday and likelihood of more stimulus package from Chinese government is 50:50.
2) I have a substantial individual Chinese holdings.
3) YANG, opposite to YINN, is a 3x leverage but in the 🐻 or down direction.
4) Various secondary chart trends for YANG appears to reverse, i.e. turning upwards.
I decide to take a position as a hedge against all my other Chinese interests, just in case the Chinese government announcement is not favourable. As far as market is concerned, the sentiments towards Chinese stocks are bad, so it takes quite a lot from the Chinese government to keep the market bullish. Therefore my decision to hedge...
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