$SOXL SOXL perpetuals on Binance fell more than 17% in a single day on Friday, dropping from 67.94 to 55.96, with an intraday low of 52.41.
The Philadelphia Semiconductor Index fell 3.43% on Friday, with AMD leading the losses at 8.75%, while Broadcom dropped 4.76%. The day Jensen Huang resigned, some people thought rivals could take a slice of Nvidia’s pie. But on Friday, they all got sold off together.
That’s just how triple-leveraged products behave: after climbing from 44 back to 68 over the previous few days, they gave back half of those gains in a single day. Nvidia reports earnings next Tuesday. The stock market is closed over the weekend, but perpetuals keep trading, so consider reducing the size of any position you plan to hold through the weekend.
#SOXL #USstocks
This is not investment advice. Manage your position size yourself.
The Philadelphia Semiconductor Index fell 3.43% on Friday, with AMD leading the losses at 8.75%, while Broadcom dropped 4.76%. The day Jensen Huang resigned, some people thought rivals could take a slice of Nvidia’s pie. But on Friday, they all got sold off together.
That’s just how triple-leveraged products behave: after climbing from 44 back to 68 over the previous few days, they gave back half of those gains in a single day. Nvidia reports earnings next Tuesday. The stock market is closed over the weekend, but perpetuals keep trading, so consider reducing the size of any position you plan to hold through the weekend.
#SOXL #USstocks
This is not investment advice. Manage your position size yourself.
