irish pete ag06 said:

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GreasenUSA said:

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McInnis 03 said:

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GreasenUSA said:

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Jet Black said:

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What is the bet for tomorrow? Up? Down? Asteroid crushes wall st?

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The most recent two times that we've had breakdowns from the previous range (5/5 and 5/11), the day after the breakdowns have been gap downs that ended up red, with close ending very near the open.

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Looking like a match again....

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I like to trade QQQ, so I'm going to see if today plays out a similar pattern to the day after the last two breakdowns (5/6 and 5/12)





We saw an initial dip for about 10 minutes, then a climb for 1-2 hours to the area of the previous end of day resistance.

Going to watch price action, but will considering shorting some QQQ in the 292-293 area today if we get there.

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Hi friend. I'm nearly all QQQ myself!

I remember both days vividly. Kicked myself for not shorting. Thanks for the reminder.

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It played out a little differently than the last two times, but I went ahead and took the short at 292. Have already covered 2/4 of my position. One cancels other orders in for 285 and 282 targets, and was able to move stop loss down to 290 on both targets, guaranteeing profit on the rest. Nice day. Now I can go catch some sun and a nap.

TSLA is diverging from QQQ here as they move back up into the BB range. I'm not sure the implications yet.

irish pete ag06 said:

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Farmer @ Johnsongrass, TX said:

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Jet Black said:

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What is the bet for tomorrow? Up? Down? Asteroid crushes wall st?

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I'd like XOM starting with an 87 number or lower.

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LOAD THE BOAT!

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Yes,...and...I am highly disappointed the mighty Bears can't deliver me an XOM number with 87 in front this morning. I'll wait. Might have to adjust up to $88 number. I want $10 gal gas. My opinion may not be the popular opinion. FJB's energy policy needs exposure and the American public needs an education of what is really happening. Sometimes the cost of tuition for an education can get expensive.

NVDA looks tasty at these levels. Those recovery rallies are awesome to watch. I have not participated.

$383 is support as well, but weak.

Sold all my QQQ in my Roth and moved it over to TQQQ.

Up to 457 shares @ $31.80. Risky position but we HAVE to be near a bottom, right? I think the reward far outweighs the risk currently. I don't see it falling another 50%.

trying to time the bottom is not a good idea

Brian Earl Spilner said:

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Sold all my QQQ in my Roth and moved it over to TQQQ.

Up to 457 shares @ $31.80. Risky position but we HAVE to be near a bottom, right? I think the reward far outweighs the risk currently. I don't see it falling another 50%.

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The bottom is another 10%. SPY 350. My $.02

sts7049 said:

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trying to time the bottom is not a good idea

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True. I'm not too worried about catching the bottom. Planning on holding TQQQ for at least the next month. Typically I'd never hold that long but the way things have been I think the upside is better than maybe it's ever been.

Explain?

It's only 5% of my portfolio, fyi.

I should have posted earlier, but SQ is doing OK.

I picked up 87C at 1.85, sold some at 2.05, trailing stop now at 2.20

Like I said, I'm not worried about catching the bottom, and the upside is far greater.

Plus for only being 5%, not sure why it's that stupid. I mean all investing is risky.

I am willing to long SPX above 3930.

think of it this way. if you aren't worried about the bottom, then why don't you wait until it's more obvious we have reversed?

$DXY is coming off. That's good for stonks.

Brian Earl Spilner said:

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Like I said, I'm not worried about catching the bottom, and the upside is far greater.

Plus for only being 5%, not sure why it's that stupid. I mean all investing is risky.

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I'll say it again. If we have another historic bull market, you'll be golden. But that is a small scenario for how these 3x leveraged funds play out. Choppy market, you'll lose. Bear market, you'll lose your ass.

Personally, I would consider starting to scale out in increments once you do see profit, if not outright taking the full profit and moving back into QQQ.

Just buying QQQ for a long term hold would likely add a few more years onto your life vs holding TQQQ.

a close above 4050 on SPX would convince me to go long.

Prior close showing some resistance yet.

Double top intraday

Want to see 385.15 tested during hours here.

short TSLA 680P small. 8.7, stop 6.5

lot of downward looking stocks.

MSFT rejected at 256 multiple times. DIS lost 104.5 it had been building off of.
AAPL is setting up on a new downtrend still at risk to drop to the one from yesterday.
TSLA is trading on a downtrend as well.

$30,000 Millionaire said:

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short TSLA 680P small. 8.7, stop 6.5

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moved too fast. wait for 710 again. I'm covering this current set.

$30,000 Millionaire said:

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$30,000 Millionaire said:

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short TSLA 680P small. 8.7, stop 6.5

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moved too fast. wait for 710 again. I'm covering this current set.

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this worked out if you took.

$30,000 Millionaire said:

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texagbeliever said:

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QQQ & AAPL are diverging here. Not normal

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last general to fall. AAPL needs to see 120

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Redler had line in the sand of 138.8 for AAPL this morning.

$aapl will be important for clues to the day. pic.twitter.com/UFdnBsAiiM

— Scott Redler (@RedDogT3) May 19, 2022

lets see if TSLA can really give it up here.

I shorted the first rejection into prior close. And the 2nd as a double top. Watching now.

SHOP up 7%.

$30,000 Millionaire said:

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lets see if TSLA can really give it up here.

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TSLA has a downtrend line from 4/11 & 4/26 close that i think is giving some support.

I may be a dumb dumb but some strong companies will be in really good spots to enter trading positions.

I already have one going in AMD. Trying to set one up in AAPL.

$30,000 Millionaire said:

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texagbeliever said:

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QQQ & AAPL are diverging here. Not normal

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last general to fall. AAPL needs to see 120

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132.60s may find some larger support.....maybe