Would like to see a surge in the markets of 4-5% in one day to shake out the weak hands. Regardless, LABD will keep falling until markets rise 7-14% from their recent lows. This process could take days or more likely weeks. After the next short term bounce in the markets, LABD will be a buy and hold until the markets fall 45-55%+. Could easily go to $100+ but will continue falling in the short term.
RUSS will continue plummeting until the markets rise 7-14%. The next time I buy I won't be selling until the markets drop 40-55%. It's gonna be a beautiful ride down...been waiting 7 years.
Enjoy the elevator ride down through all the emotions: confidence, anxiety, denial, fear/panic, capitulation, despondency/neglect. If you're long MELI, the forecast is pain and suffering for the next 1-2 years. Enjoy, you earned it.
In 2008 amidst the insanity I predicted oil would go to $20 or below. It will likely still get there. However, nothing goes in a straight line. I sold my short ETFs and ETNs yesterday at a profit. Missed some gains but I'm waiting for the next bounce. Not a matter of if but when. That said, nobody knows how much further the markets will drop before the next short-lived bounce. Over the next 1-2 years the markets will likely fall an additional 30-45% That's just an average fall based on today's pricing. Read Jon Hussman's weekly commentary. One of the few intelligent guys on Wall St. That doesn't answer your question but hopefully gives you more info to make an informed decision. You're not alone in losing money as most do, including myself on many, many occassions. Good luck!
Bull market is most likely in a late stage topping formation the past eight months so there is a lot more upside to triple short etfs like LABD. That said, it'll continue to be remarkably volatile in the mean time. Hang on as this could easily go to $100+ once there's wholesale panic-driven liquidation of the biotech equities. That time will come...
Housing is yesterday's news. Look at the dropping median sales price of houses the past two months across all markets. The 14% Nasdaq free fall in August spooked home buyers and sellers. The numbers across the board and across all countries, save maybe India, are terrible. Revenue misses, PPI dropping, LATAM recession, Russian recession, commodities recession, China slowing, massive divergence in stocks (i.e. markets at 52 wk highs with majority of stocks not near 52 wk highs) suggests investors are turning risk averse, which is the #1 determinant of market direction. The situation is the most precarious it's been in 6.5 years.