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direxion dies


(probably already posted; could not find)

Lost about a quarter on RWGV, which I believe, could be mistaken, was well-ranked on MFOP once upon a time in the alt world

hold till end or sell Tuesday morning?


  • edited September 2022
    Hi sir that is the 400billions dollars questions and so hard to answer

    I Have lots time left +17yrs
    Likely holding patterns for me for now for 6 8 wks??!!. No buys now... Hold everything
    See how it goes next 4 6 wks... Maybe more pains more downturns fed trying kill tame inflation.... Likely more downswing

    Friends say reach critical support levels ... Unclear if levels break next wk, if it does expect another 10-20% drop/next leg

    Regardless I think in 24 months expect ?! +12-20% returns from these levels

    Maybe too late to sale now for me so holding patterns and not sure when will bounce...
    Should sold 2 wks ago but back then all pundits say breadth of stocks back and expect more up swings (unril uncle Powell killed the golden goose at Jackson hole speech) Think if feds slow down in 8-16 wks market will rebound (slow QT easing and slower rate cutdowns) ..

    Lots small caps tech arkk severely low near bottoms but how far beyond will go/will drop nobody know... Add more techs tna in 8 wks?
  • edited September 2022
    If you have a loss in RWGV in a taxable account, I would definitely recommend selling to harvest the loss for a write off. If not, I still think it seems like a gimmicky fund you could probably do without and may soon close and liquidate as you suspect. If you believe growth is due for a comeback, just replace this leveraged fund with a regular low cost growth ETF.
  • big loss; closing date is 23 Sept, no 'may' to it, it appears;

    no tax consequences (Roth ira)

    just looking for two and more cents about bailing Tues morning, or later on

    already hold lots of VONG; this was just play around the edges
  • rwvg very low volume

    Maybe better trade TNA med-long term hold for me
  • I suppose if volume is low and the bid-ask spread is wide, you can hold to liquidate at NAV, although my impression is a few days before liquidation some ETFs often go to cash, which might mean if there’s some bounce back, you could miss it,
  • edited September 2022

    I must wonder what will set the liquidation price in such a vehicle
  • The Shadow noted these closures in this month's Briefly Noted column.
  • Adding to @orage comment on The Shadow’s Sept’s Commentary:
    A whole series of Direxion ETFs, some modestly silly and others just very badly out-of-step with the market, hence unattractive to fickle investors, will be liquidated on September 23, 2022.

    Direxion Daily Cloud Computing Bear 2X Shares (CLDS)
    Direxion Daily 5G Communications Bull 2X Shares (TENG)
    Direxion Russell 1000® Growth Over Value ETF (RWGV)
    Direxion Russell 1000® Value Over Growth ETF (RWVG)
    Direxion World Without Waste ETF (WWOW)
    Direxion Fallen Knives ETF (NIFE)
    Direxion Low Priced Stock ETF (LOPX)
  • Kind of funny that the falling knives ETF is biting the dust. Ahh, too many puns.
  • rwgv huge spread, no one buying or selling, cannot sell at market, trying to figure out limit

    what a friggin' mess
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