2x leveraged WDC input
This is another typical “ohh panic sell post” but advice would be appreciated. On June 22 I put 13k in WDCX (2x leverage of WDC). This happened to be the same day it started crashing.
Since this, I’ve held hoping it would recover and I could break even. Although obviously now it’s gone down a lot and I’m down almost 10k/ -72%
I would like some input on what I should do.
I’m a college student and if I were to sell and put the losses on my taxes, I would be found out by my parents and I would be in big trouble. It also has chances of going up, especially since the which seems all the events such as the rally and earnings are over. If it goes down I can lose more. I don’t need the money any time soon and I can hold for a long time but leverage decay is a factor.
I’m just not sure what to do in this situation as I could potentially recuperate some losses if it does well this month, or it could go down more for some reason.
Anything will be appreciated, thanks.