Tech Rally Drives Market Gains: DRN & LABU Trades
This market is much more thin than healthy even with $Invesco QQQ(QQQ)$ printing a new all time high, driven mostly by gains in $Roundhill Magnificent Seven ETF(MAGS)$ from yesterday in $ $NVIDIA(NVDA)$ +4.33%, $Alphabet(GOOGL)$ +2.24%, $Apple(AAPL)$ +0.63%, and $Microsoft(MSFT)$ +0.44% contributing to a combined market cap exceeding $12T.
Monday's strong open lured me into executing long bias idea in $Direxion Daily Real Estate Bull 3X Shares(DRN)$ and $Direxion Daily S&P Biotech Bull 3x Shares(LABU)$ , on top of carrying my existing position (also stopped out from $T-Rex 2X Inverse MSTR Daily Target ETF(MSTZ)$ attempt from last Friday, with BTCUSD bouncing back into apex of the symmetrical triangle highlighted last week).
But even on hindsight, the execution in DRN (from $Real Estate Select Sector SPDR Fund(XLRE)$ ) and LABU (from $Spdr S&P Biotech Etf(XBI)$ ) are trades that I'll execute again from those spot, than extended move in $ProShares UltraPro QQQ(TQQQ)$ $Direxion Daily Technology Bull 3X Shares(TECL)$ or even individual leaders in $Robinhood(HOOD)$ $Advanced Micro Devices(AMD)$ $Microsoft(MSFT)$ $NVIDIA(NVDA)$.
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