Hi. Yeah I think I responded to the wrong post! @Sharetrader78 posted that he was buying SNAS. It sounds like you've been holding BBUS for a while. I was in and out of BBUS a couple of times last year and I think I traded SNAS once. With the SPX, it will be interesting to see if it finds support at 4,200. If it does that's quite bullish as 4,200 was rejected back in January. 3800 gave support in Dec '22 and March '23 so, if it does retest it, it will be interesting to see if it holds. I still say you are brave. I don't think the risk/reward of holding BBUS is worth it IMHO. Too much money sloshing around generally is not a negative for markets. The US budget deficit, I don;t know what it is standing at exactly but it's more than the Australian GDP I think! There is actually a mini-demographic boom in the household formation aged cohort of the 30s in the USA and Australia that I don't think people are factoring into their macroencomic outlooks.
This is the problem with taking a geared short position. You have to be right not just with the fundamental direction but also the timing. The inevitable is not necessarily imminent (to quote commodity investor Rick Rule). You can't just hold this geared short ETFs because the cost of continuously rolling over the contracts eats away at their value.
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