In January of last year I noticed The Mkt. I'd lost 40k in the 2008 crash and hadn't paid any attention since.
I joined a MEETUP group that was following Investor's Business Daily founder William J. O'Neil's principals. The group was based in Anchorage and the moderator was a wastewater manager. Floyd had been investing for over 20 years and along with an insouciant avoidance of particulars, allowed as how he had college funds for his three grandchildren. He mentioned the ETF TQQQ.
Later, in a YT recording of one their meetings, I noticed SOXL and began watching it...like a cat at a mousehole.
Sometime last summer Floyd handed the reins to Haley Zao in San Francisco who changed the group name to LEGS: Leveraged ETFs & Growth Stocks.
A few months ago we had a guest speaker, a woman who'd been trading SOXL exclusively. She was retired and trading with her savings. She shared the percent growth she'd had the past five years. I only remember two: five years ago: 109% and 2024: 79%.
Every few weeks SOXL drops. I'm getting better at waiting 'til it gets further down b4 I buy. This morning's low has been 57.73, at the open of the Pre Mkt. So far I've bought 58 shares at an average price of 64.50; the last one at 58.05. This drop started at 73.33.
The 57.64 was at 5:56 am. The Mkt opens at 2 am in Alb. It's can be a long day when it closes at 2 pm.
OK, I'm no finacial genius, but I assume you expect it to recover to somewhere near 70?
ReplyDeleteYes. It's been going through these cycles of varying depth all along. I've made several hundreds over the year familiarizing myself. I'm still paying down debt incurred from Phoebe repairs so have limited the amount I'm using. It's astounding how quickly it can recover. The last big drop to $49.65 on January 8, took three weeks to get back to 70.
ReplyDeleteWe'll see. I'm no good at gambling. I've been watching SOXL for almost a year and I STILL end up buying too soon. I wanted to note this instance so posted it. As my memory continues to worsen, I increasingly rely on the blog.
Luck will play an important role here. Patterns change change abruptly.
ReplyDeleteYes, and as I've seen since kindrrgarten, I'm lucky in love, but not so much w money. Fingers & eyes crossed! 😄
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