Note on this chart of the triple leveraged SOXL that it has fallen 50% since hitting its $300 all time high on Jun 22nd, less than one month ago. Could it fall another 50% by August 21st expiration, about one month down the road? Based on my chart analysis, yes. SOXL SOXL has risen from $39 on March 30 to a high tick of $302 on Jun 22nd. It has since took its first 50% haircut, trading around $150 today The bet here is that price is now headed toward the lower blue trend support line, up from 2013. It doesn't have to get all the way to it for the puts below to be up multi-fold. SOXL Aug Puts The bet here is for another 50% haircut, minimum, over the next few weeks. Don't bet the farm. Two Good Looking Longs, But Earnings Are A Wild Card GOOGL Earnings: July 22 AAPL Earnings: Jul 30 I spent a lot of angst this morning on whether to suggest August calls on these two very bullish chart patterns. In the end, I chose not to buy calls on a stock in front of earnings, too much of a wild card. Nonetheless, I wanted to point out that both GOOGL and AAPL sport bullish trade patterns. We will revisit post earnings.
