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Shorting TECL vs. buying TECS on a sell signal
The performance is calculated by going short TECL on sell signals and going long on TECL on buy signals. The two inversely mirror each other over shorter periods but over longer ones such as since 5/11/22, 3x-ETFs tend to degrade thus shorting TECL can result in greater gains vs buying TECS.
Please also read this FAQ:
On decay factors, when do leveraged ETFs underperform and when do they outperform? To remove the bias, it seems better to short a normal leveraged ETF instead of just buying an inverse leveraged ETF