I don’t normally monkey around with leveraged ETFs, but I was so enthralled by energy’s weakness, I had built up a big long position in ERY (as mentioned in my Lake Erie post). On Tuesday night, I calculated the measured move on it, drew a horizontal line and watched it closely. Wednesday morning, before the inventory report, ERY nailed its target, so I quickly got out of it. Thank goodness.
And this Wednesday-morning tweet kind of sealed the decision for me: