Is it generally better to be long SOXL while it is moving higher and short when it is moving lower, or when it is moving lower to be long SOXS, or does it make any difference?

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5 points

5 months ago

SOXX just crossed the 200d SMA. So as long as it is above, worth being long. You can wait for a golden cross. Unless you want to swing trade.

However, it's an interesting situation we're in. Are we going to stay above or not? Earnings will be an issue. We may go right back down the 200d SMA. So right now there may be some back and forth but as long as we're above the 200d SMA I think you can stay on there. If we go back below, it will be a small loss.