March 10, 2020
First of all, I'd like to thank Direxion for addressing this issue. I know your company has its own agenda for doing so, but I agree with your reasoning. I believe that if a position is traded on a U.S. market, it should be available to be traded by anyone, not just a select few. If I could be so bold, I would like to sight a few examples of this hypocrisy. In the 80's and 90's, I purchased shares of GE for a total cost basis of 53.42 USD. When I sold years later, I lost over 10 thousand dollars. Where was the SEC then?
I also bought 1500 shares of Exodus Comm. at around $12.00 per share only to see its price dwindle to under $1.50 and eventually go bankrupt. My point is...buyer beware. In all other facets of life, we, as buyers, must do our due diligence. Why should the market be any different? Are we living in China? Our gov't controls enough in our lives. Also, who says our gov't knows more about investing than we do?
I've bought and sold the TQQQs many times making a profit each time.
Finally, I will say that I am always in the market for a good fight. If I lose my right to invest in my country, then, utilizing the court system, my country will pay.