Battle for QQQ 300

Zack Morris is MIA, but other Atlas posters expecting next week to be "fire" (in a good way).

Let's just hope bears dont get greedy and cover with panic selling today...

Not sure I could've picked a worse day to move my 401k since it's going to use today's closing price. Here's to a nice after lunch rally.

NM

QQQ fightin' the 300 level

59 South said:

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You guys remind me of my 5 year when she just sits on the floor and sobs. The only way to fix it is to give her a hug. Sorry I can't hug you guys right now. BoJo made it illegal here, even eHugs.

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What if we have mask on? I have been told it's ok then.

EngrAg14 said:

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leoj said:

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TMOOSE said:

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So, is it safe to say that this was the huge "correction"

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Nope

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377 then 358 then 338 then 286..
377 will be hit within the next few days if not tomorrow or Monday.

358 would be the correction territory and large would be 338. If it goes below that there's bigger issues.

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We hit 377 but the drop has me sure we're gonna hit 358 now before the end of next week.
This would be a 9.5% correction on SPY from 394 high, so maybe we hit 355 and then bounce after having theb10% correction.

Although I expect a much slower growth cycle this time around.

Well if you are going to Roth IRA, should be lower tax impact on your hammered 401K at conversion. Then you get tax free gains in the Roth on the recovery.

59 South said:

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You guys remind me of my 5 year when she just sits on the floor and sobs. The only way to fix it is to give her a hug. Sorry I can't hug you guys right now. BoJo made it illegal here, even eHugs.

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Visiting numerous Irish pubs would work for me you jolly ole chap.

Very fitting CLOV is down there near the butt... as it's been a constant pain there for everyone lately.

CrazyRichAggie said:

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59 South said:

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You guys remind me of my 5 year when she just sits on the floor and sobs. The only way to fix it is to give her a hug. Sorry I can't hug you guys right now. BoJo made it illegal here, even eHugs.

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What if we have mask on? I have been told it's ok then.

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Nope

But evidently come June 21 it's on (LOLOLOLOL)

I think OA went fishing. He has been MIA here and on twitter this morning.

Ags2013 said:

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$30,000 Millionaire said:

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turn your computers off and walk away.

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perfect gif for today!

Put in a qqq limit order for 298. Let's see if it hits.

$30,000 Millionaire said:

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turn your computers off and walk away.

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Great advice

FJ43 said:

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Guys when this bottoms and reverses, things (and this thread) will be ripping. Some things will be on fire, somethings meh and some things may take time

Just try your best to have patience and not be an emotional trader. There are and will be great opportunities. Prepare your minds right for that moment.

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BlueTaze said:

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Well if you are going to Roth IRA, should be lower tax impact on your hammered 401K at conversion. Then you get tax free gains in the Roth on the recovery.

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I didn't even think about that. What would my tax burden have looked like to do that? Don't think I'd have enough cash to cover that.

bought back $ASAN May 40C I sold for $5.25 for $1.05

I think a lot of big shorts will cover into close today.

agdaddy04 said:

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Not sure I could've picked a worse day to move my 401k since it's going to use today's closing price. Here's to a nice after lunch rally.

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Good luck to you.

I moved my 401k and IRAs out of the market about 2 months ago as my wife is leaving her job and didn't want to risk more than necessary. I timed that incredibly well and will be looking to take more risk in the future when my wife finds another job.

My investment account is the one taking a hit right now.

I tried to time it in March 2020, and it was a very bad decision for me and learned not to make that mistake. I hope you can get back in it down the line and enjoy the upswing.

Think of this as an opportunity to realize losses to offset either gains from earlier this year or later this year.

If you are still wanting to hold onto your Bitcoin miners for example. If you are under water in Mara, then sell Mara (lock in the loss to offset other gains), and buy riot, sos, ebon etc

You still have exposure to Bitcoin and yet take advantage of this downturn

I did this last year when I wanted to still have exposure to oil, so I traded xom vs cvx, and then 31 days later traded back to my original position. Also traded a basket of oil stocks vs xle

The difficult part is sometimes trying to find that stock that behaves similar to a loser that you have. For example, what stock trades similar to clov, that I could do this with?

Also, think about doing this in 31 day increments. Sell Mara, buy riot, then 31 days later flip it back. Then 31 days later, do the same thing again.

Remember to use specific share indentification when selling the shares, to sell the highest price shares, and preferably those that are still short term vs long term

SNDL Jan 2022 $2/$3 call spreads for $0.10 have been filling today. I like the $0.10 risk for $0.90 max profit on a stock like this.