Submitted by Cautious_Rutabaga328 t3_z64kjp in wallstreetbets
Accomplished_Body160 t1_iy090zy wrote
I’ve been holding leveraged short etfs for over a year—sqqq SH SPXU sark. There have been downtimes when I was down 5k and uptimes when I was up 10k. I sold some then, but have been expected the big crash, so I’m holding out for that. Currently down a little because of the decay, but expecting the big kaput to start this month—the signs are everywhere at this point. It’s not the best strategy to hold them this long but when the market drops, it puts me in the green which is easy and straightforward and I don’t need to waste time timing puts, etc.
Cautious_Rutabaga328 OP t1_iy0bopt wrote
You're the regard i was looking for. Save me a space in the line for the soup kitchen if/when we're wrong
Accomplished_Body160 t1_iy0gt4s wrote
I’m in for about 25k, down about 2k now. If we’re wrong big time, I expect to lose about half or more. If we’re right big time (many reason I go on and on about—debt crisis, interest is not actually controlled, tech bubble, housing bubble, car bubble, geopolitical instability, crypto pyramid scheme unwraveling), I expect to make 100-1000% returns. I have limit sells ready at about 50% 100% 150% 200% etc returns ready to trigger. Some triggered during the last big drop, was up ~50% When in for 20k so I rebought with that at points over the last couple of weeks during this “rally.” Caught SQQQ for $43 and change which was nice. But anything at these prices will be great when market goes into free fall and sqqq is in the hundreds of dollars
Cautious_Rutabaga328 OP t1_iy0idc3 wrote
I'm only YOLO'ing my bonus from work cause fuck it...
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You got some Big Boy Balls
Accomplished_Body160 t1_iy1loun wrote
Well 10x that bonus would be nice regardless of how much. I think the crash will begin by month’s end
[deleted] t1_iy2yl5o wrote
[deleted]
Accomplished_Body160 t1_iy4uez3 wrote
Lookin good so far. Where’d you buy in?
Cautious_Rutabaga328 OP t1_iy4usgj wrote
I didn't. Platform maintenance/malfunction fucked me over so i withdrew my money decided to look for another platform... i may regret my decision...
Accomplished_Body160 t1_iy4xxhv wrote
You will. Not too late, but no pressure. Up 1k today
Cautious_Rutabaga328 OP t1_iy504ez wrote
I'm crying inside right now
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