RSP715 said:
I'm not a trader but frequently view what y'all are up to. I put a significant order in for SQQQ to hold through election. Wish me luck.
I jump around SPXL/U and S/TQQQ quite a bit. At first, had beginner's luck, then humbled, then got the experience to move with it. I'll never touch options and am still learning, but feel I have a little better grasp.
Take TQQQ yesterday. Dropped to 127.XX, and ended, yet again, amazingly at the 50 day average on a rebound at the end of the day at 132.80. WHen I'm not slammed at work, I take the 2-3 minutes to look at the averages. More times than not, you can time entry and make a good 3-4% in a few hours and slip away. I made that play multiple times, but using 100 day and 200 day, back in september.
SQQQ may be the good play here as it closed above the 21 day. It fell this morning to touch it around 22.30. Looking to see if this is the peak of SQQQ or retesting to go higher like what we saw first two weeks of september.