Craze on the stock markets

[dennisgorelik]

GUSH is 3x bull ETF for Oil&Gas.
2019-04-22 GUSH price reached $134/share.
That was 10 months ago.
Today I bought 7,660 GUSH for $1.30/share
An hour later, GUSH fell further down, and I bought 19,576 GUSH for $1.08/share.

Then GUSH fell again down to $0.95/share but I did not have free cash to buy more.
If I will be able to buy GUSH tomorrow and such a low price -- I would buy GUSH again.

What do you think: will GUSH 1 week from now cost more or less than today?

Comments

[juan_gandhi]

It's been falling for so long time now... and these $1.08 actually means $0.108 - they did "reverse split" some time ago.

[dennisgorelik]

You are right:
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https://seekingalpha.com/news/3507590-direxion-announces-1-forminus-10-reverse-splits-of-leveraged-etf
Direxion to execute a 1-for-10 reverse split of the outstanding shares of the Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares (NYSEARCA:GUSH), effective after the market close on November 21, 2019.
~~~~~~

Do you care to predict if GUSH price 1 week from now will be up or down?

I think, GUSH price will be up. Possibly, but a lot (e.g. close to $5/share).

[juan_gandhi]

I believe it'll go up, too.

[dennisgorelik]

Do you have enough guts to invest into GUSH in the middle of this panic?

[juan_gandhi]

Not actually. Maybe. I just keep cash and gold.

[dennisgorelik]

Why keep cash and gold when market is close to the bottom?
Cash and gold are for times when market is close to the peak.

[juan_gandhi]

Close to the bottom, are you sure? I'm not.

[dennisgorelik]

S&P 500 Index is up 1.78% today.
It looks like panic is, mostly, over (like it should be after such a sharp decline).

Of course we should not be sure about the bottom of the market.
But my thinking is this: interest rates are close to zero. There are no good alternatives to invest money but stocks. Investors will calm down and start buying stocks again. Soon.