Heisenberg notes $TQQQ has fallen back to 2021 highs even as $QQQ remains far above them, highlighting the path-dependence risk of daily 3x products.
Currently the $TQQQ (3x etf of QQQ) has retraced all the way back to the same levels as the 2021 highs while the $QQQ itself is still some 45% above those same 2021 highs.
I think at this point everyone knows how to play these 3x levered etf's and the risks they carry.
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