IT could jump to $7.00 and I wouldnt care, I have seen 2x and 3x etfs trade above $300 only to drop into the single digits so seeing URE at $6.15 the possibility of it dropping back to $3 or $4 is nearly 100% guaranteed.
Ill let you know when I jump back in, will probably be around $4.50 range.
Will still frequent the board to see what everyone's opinion is on this, after going out day after day after day and seeing for lease and sale signs on buildings 20,000 sq feet and larger I think its time to take profits, the markets are being controlled to the upside, how greedy can one get, its up nearly 30% in a week, not worth holding on right now. $7.00 could come and we could see a 10% correction in the markets sending this down right to $5.00 once again. I know this moves quick to the downside because I have been trading it for a long long time, I was going to sell out around $5.75 a couple of weeks ago and said nah ill wait, i waited for $6.00, touched $5.92 and fell all the way back below $4.75, no need to hold on and risk profits at this point.
Good luck to all who still hold, im out at $6.13 for now.
If you are totally out of it I hope you made a profit holding it because it seems in a manipulated market any bull can make money on the long side, I sold today, like I said I dont want to be greedy and wait for anything higher, I was patient enough to sell today at $6.13 and will great full to get back in under $5.00 hopefully in the next 3-4 weeks.
Joe I really think you will be able to get back in under $4.50. Market is extremely overbought.
I bought at all prices and was averaged in around $4.50.
Ill keep you posted if I get back in, if there is a huge dip on this etf say of 10% or more on any given market opening I would jump in just to daytrade it.