Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 198.54

-4.1%

Nov 4 3:59 PM EST

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From: Trader J	8/15/2024 11:09:05 AM
	of 56532

TNA: I purchased TNA Monday on what I believed is a good long term setup for small caps. After purchasing, it was interesting to see the talking heads downplay the small cap trade due to lack of confidence in the economy. It's going to be a very interesting couple of months as I purchase TNA with the hope of holding into the first rate cut and possibly the second. As a 3x leverage, it's not an ideal holder for the long term due to how they obtain the leverage, but if you can catch a catalyst move higher in the Russell, it can generate big gains. My first position is at $36 and I was hoping to catch a lower move to $34 for my second but may not get it now. In any event, I remain a bit perplexed at how negative much of the analyst community has gotten on small caps in such short order. It seems that the narrative is that if recession is on the horizon then the trade is off but that seems short sighted to me. I had been kicking my missed opportunity from near $34 recently as it ran to nearly $50. Then the recession scare brought down very quickly back to just above $33. I will trade out of it on any move close to recent highs.

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