Anyone else riding the 2x leveraged SNDK ETF? This one's been a rollercoaster
Been holding $SNXX for a while now. Tradr 2X Long SNDK Daily ETF, for those not familiar with the name. Leveraged plays on storage semis have been wild this cycle, and SNDK as an underlying has had some serious moves.
Pulled up the position on moomoo and honestly the chart tells the whole story better than words can. Two times leverage cuts both ways and this one has delivered both the highs and the gut punches.
The storage/NAND space seems like it's finally coming out of its down cycle, but I'm not fully convinced the timing is clean yet. Macro still has teeth, and leveraged ETFs have that daily decay drag working against you the longer you hold. Short-term momentum plays only imo.
Ended the trade with a kind of "amitofo" energy, ngl. Sometimes the market humbles you, sometimes it doesn't.
Anyone else running leveraged sector ETFs right now? Am I the only one kinda addicted to these 2x instruments despite knowing better?