UPDATE September 1
IT'S HERE!!!
And iam ![]()
BEARISH... That being said... I have sold MOST* of my SQQQ and ALL of my QQQ PUTS (at large gains) iam going to buy them ALL back, iam just on a momentous momentum money detour ![]()
*I sold all my short dated SQQQ, I held my Oct options and stock.
Q: Why did I sell my SQQQ?
A: I believe we start September with a little bump, maybe not bump but churning before lots more downside
Q: Eventhough you sold, is it a good time to enter SQQQ or other short mechanisms ie. puts?
A: Yes, on any bumps - these are prime entry points. SQQQ is safer than options because it is not effected by time decay (yes it has long time decay but not short term) or IV.
Q: Why did you sell?
A: Chasing a momentum dream
$Alibaba(BABA.US$ BABA, with all the movement it has not broken the uptrend, institutions are buying, the market is bearish, and baba is ????
$USD(USDindex.FX$ Churning
$Crude Oil Futures(AUG4)(CLmain.US$ Bottoming
$VIX Index Futures(JUL4)(VXmain.US$ A pullback before another leg up?
$Micro Silver Futures(SEP4)(SILmain.US$ Searching for a bottom, mid Sept but time is the hardest to predict. September is still set to be big
QQQ
As always
Good Luck ![]()
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Mike Hunt : Non farm payroll Friday is always fun.
日生人王 : Same, sold my PUT yesterday, planning to buy them back soon
More volatility ahead. GLHF
bwjx : Oil is difficult to trade. Falls from the top to the bottom of the channel.
But most of the analysis were on point. I thought most would be bullish on the QQQ due to oversold conditions and went wrong side of the trade, losing about 30USD.
VKLiow Mike Hunt: Wdym fun
Mike Hunt VKLiow: NFP means volatility. That’s fun for a trader. I really have to explain that to you?
Conectz : What do you think a good price would be to get in on SQQQ if we believe the worst of a recession is to come?
iamiamOP Conectz: I wouldnt worry about price targets, on any market green days it's a buy for a med term hold.
Conectz iamiamOP: Okay, thank you. Also, is it an unrealistic possibility of this hitting $2100 again or surpassing it from the Covid crash?
iamiamOP Conectz: surpassing 2100 yes is unrealistic, passing 63 of covid is possible but not on this bearish run probably 55 ish maybe 58 on this run
Conectz iamiamOP: I didn’t mean this run I was just implying is general like if we do have to have continued control on inflation and go into a deep recession
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