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US Leveraged ETF trade is COLLAPSING:
US leveraged and inverse ETF assets have plunged -33%, or -$70 BILLION, from their June peak, to ~$140 billion, their lowest level since April.
Gross exposure, which measures the total market positions controlled by these funds, including leverage, has fallen -35%, or -$180 BILLION to ~$350 billion.
Meanwhile, retail investors aggressively increased exposure to leveraged ETFs, with the 3x leveraged long semiconductor ETF, $SOXL, alone attracting +$5.1 billion last week, its 2nd-largest weekly intake EVER.
Last week alone $SOXL prices dropped -40% and are down -85% from their June peak.
Retail investors are catching falling knives using leverage.