UPDATE August 4
I broke my stylus so this is going to be short and sloppy, apologies.
I started going short today (I had single short positions, only because that's how I track it) now iam almost 50/50 long/short with cash ready (this allows me to pick a side briefly or go heavy one direction while closing the opposite position).
Why I started short $Invesco QQQ Trust(QQQ.US$
$ProShares UltraPro QQQ ETF(TQQQ.US$ Bullish 3X leverage
$ProShares UltraPro Short QQQ ETF(SQQQ.US$ Bearish 3X leverage
I started going short today (I had single short positions, only because that's how I track it) now iam almost 50/50 long/short with cash ready (this allows me to pick a side briefly or go heavy one direction while closing the opposite position).
Why I started short $Invesco QQQ Trust(QQQ.US$
$ProShares UltraPro QQQ ETF(TQQQ.US$ Bullish 3X leverage
$ProShares UltraPro Short QQQ ETF(SQQQ.US$ Bearish 3X leverage
The rally is getting a little long, and the candles keep separating from the Moving Averages, and nothing stays separated for very long. I expect a spike up before a failure. We are right on a trendline so the candle could set up on the trendline (when this happens it's like a launching pad)
This rally is 3 part, we need a pullback before another big leg up, 340 is not out of the question. Pullbacks (or closing gaps) happen 2 ways, either the stock goes flat and let's the MAs catch up, or it drops back down to the MAs, we are time constrained (September) so I expect a drop not a flattening.
This rally is 3 part, we need a pullback before another big leg up, 340 is not out of the question. Pullbacks (or closing gaps) happen 2 ways, either the stock goes flat and let's the MAs catch up, or it drops back down to the MAs, we are time constrained (September) so I expect a drop not a flattening.
now to show how this set up.
Another example of a stock that separated from the MAs and now looks to close the gap. I was long and closed my positions 2 days ago. When this gap fills I will be long again in a BIG BIG way. $iShares Silver Trust(SLV.US$ See that red candle forming
I have around 30k shares that says this breaks trendline.
$Alibaba(BABA.US$ Baba found its bottom and is turning around. Did you sell when all the bad BABA news dropped? You should've bought. Those that sold at 90 because of "news" I feel bad for you but you fell into the trap and now your cheap shares are gone. The news is CREATED to INFLUENCE you NOT to INFORM you. This is why I don't pay any attention to it.
$Qualcomm(QCOM.US$ My giving tree. This stock has gone through the initial breakout and has now reset, gaps have closed, major trendline has been set up on, let's roll - 160!!!
And now I will close with oil, a look at the charts daily weekly monthly to show how the trends are lining up. Should oil fall to 75 I will be buying like mad, this is still a 150 oil projection, we just need to close this leg with a retracement. $Crude Oil Futures(SEP4)(CLmain.US$
I will close with my baby $ChemoCentryx(CCXI.US$ Nothing has changed if you follow me, this is playing out just as I drew it up a few weeks ago. It's getting ready for its second run (and final before downtrend) see those bollinger bands starting to "pinch" together - do we get a 30 run!?!?!
The charts are sloppy but the sentiment is there. I continue to be extremely busy (what recession), no rest for the wicked I guess, but will continue to try and post updates.
As always Good Luck
and Ride Those Waves!
Some only see the stormy seas while others see the perfect waves.
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ReStart Hope : It’s a comprehensive analysis, not short and sloppy maybe the short and sloppy is meant for the addition of shorts in your portfolio. Thanks!
bwjx : Thanks for sharing. Made the mistake of shorting the qqq early. Hoped the damage can be repaired. Are you bullish on China market in general?
iamiam OP bwjx : yes only temporarily I have YINN but only since yesterday and I'm probably selling today, not that I have an opinion on china market I just don't follow it, only baba and only because it hit my alerts before the last run. Sorry I couldn't be more help.
Conn_00 : Finally ur hard work pay off for CCXI~
101828445 : Should we sell all $ChemoCentryx (CCXI.US)$ and wait till the downtrend comes before we start buying again?
iamiam OP 101828445 : I sold some, I will buy back if it comes down much at all
I LOVE CCXI !!!!
101828445 iamiam OP : THANK YOU FOR RECOMMENDING THIS STOCK!!
Albert Ck : Hi @iamiam, Do you think $Intrepid Potash (IPI.US)$ if the price may climb to 60-80s within next 02 weeks after Q2 earning report today ? I bet on the result super strong .
Albert Ck Albert Ck : To hit the price high of month Feb- March ?
iamiam OP Albert Ck : that's a lot, but you could sell on the spike for good profit, just a thought.
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