March 10, 2020
I have over 20 years of experience operating in the stock market. This is my full time business and I choose to operate with SOXL because its levered characteristics require my services to market participants. I understand and focus on SOXLs leverage, implied volatility, and how to hedge against its risks of large moves. My operations act along the lines of an insurance business that provides liquidity and insurance services to stock market participants. This is my full time, 40+ hours per week, business. I monitor, chart, and plan every trading day of the year. I depend on SOXL as my main instrument for my business operations. If the SEC were to impose a policy that would prevent me from continuing my business operations in SOXL, it would have an extreme and direct impact on my livelihood.
We are in America. We should encourage individuals to be entrepreneurial, intelligently start businesses, manage risks, and grow. For the last three years, I have been successfully operating SOXL in a disciplined approach with strict principles, risk management, and trade plans that allow my account to compound over time. This notion that my broker can take my right away and decide what I am capable of investing and operating in is un-American and against capitalism in the market place and in society. My having already operated in SOXL successfully should automatically qualify me to continue in my business. I am against this proposal because it would be detrimental to my livelihood and is against what America and capitalism is about.