Methodology: each issue's direction is a live signal — long/short opens or holds a position, neutral means flat, and every direction change opens, flips, or closes it. Returns are direction-aware (a short gains when the price falls) and compound across positions from first observation to the latest issue. "Price move" is the stock's own raw change, shown separately. Neither represents actual portfolio performance.
Brief History (14 issues)
Down 14.52% in a session at RSI 36.0. CXMT's listing and reports of Chinese DUV production pressured semis, and 3x leverage turned the sector's 4.8% decline into a rout — decay makes this unsuitable to hold
Down 2.2% with semis torn (INTC +12% after hours versus a sector pullback) — 3x leverage gets hit from both sides in a dispersed tape
The memory rally detonated a +15.9% day, but the -40% month shows 3x leverage eats chop as eagerly as rallies — trade trend days, don't hold overnight faith
Down 4.92% to $135.47, -25.7% on the week and -45.2% on the month — a 3x amplifier of the SOX bear; catching this knife means catching three at once
Down 13.9% to $142.48, -46.7% on the month — two 14% single-day losses in two weeks; in a divergent tape this product retains educational value only
Down 6.3% to $165.55, the 3x invoice of memory's second leg, -37.8% on the month — in a divergent semis tape, leverage is self-harm
Down 14.0% to $165.37, the 3x casualty of the SK Hynix shockwave — a 14% single-day loss is the entire argument against holding this long
Flat to close the week, still -12.3% over five days — leverage scars heal slowly
Up 10.1% on day two of the 3x chip party, yet still -12.2% for the week — leverage math is never symmetric
Up 5.8% in a 3x chip-bounce party — while the -26.5% week reminds you the downside is 3x too
-15.1% in a day; WSB mentions 4x'd on dip-buying — there is no 'long-term investing' inside 3x leverage
+7.3% 3x semis violent bounce, steadying after a -16% month; no iron stop, no touch
-16.6% in a day, -35.5% on the month: 3x semis is this cycle's meat grinder — no iron stop, no touch
-18% in one day — the memory rout at 3x. Don't touch until MU stabilizes; leveraged decay is at its worst in extreme volatility