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.irish pete ag06 said:Hi friend. I'm nearly all QQQ myself!GreasenUSA said: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)McInnis 03 said:GreasenUSA said:Jet Black said:
What is the bet for tomorrow? Up? Down? Asteroid crushes wall st?
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.
Looking like a match again....
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.
I remember both days vividly. Kicked myself for not shorting. Thanks for the reminder.
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Bob Knights Paper Hands
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TSLA is diverging from QQQ here as they move back up into the BB range. I'm not sure the implications yet.
Farmer @ Johnsongrass, TX
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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.irish pete ag06 said:LOAD THE BOAT!Farmer @ Johnsongrass, TX said:Jet Black said:
What is the bet for tomorrow? Up? Down? Asteroid crushes wall st?
I'd like XOM starting with an 87 number or lower.
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%.
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
not a horrible start to the day
You don’t trade for money, you trade for freedom.
The bottom is another 10%. SPY 350. My $.02Brian Earl Spilner said:
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%.
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.sts7049 said:
trying to time the bottom is not a good idea
Brian - tough love here, buddy, sorry.
Don't be stupid.
Don't be stupid.
You don’t trade for money, you trade for freedom.
Explain?
It's only 5% of my portfolio, fyi.
It's only 5% of my portfolio, fyi.
don't over leverage yourself in a 3X ETF. This could go a lot lower. 270 is a likely area on QQQ if we go lower.Brian Earl Spilner said:
Explain?
That's another 8% or so.
You don’t trade for money, you trade for freedom.
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
I picked up 87C at 1.85, sold some at 2.05, trailing stop now at 2.20
You don’t trade for money, you trade for freedom.
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.
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.
You don’t trade for money, you trade for freedom.
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?
Call me crazy but nothing about this market is obvious.
$DXY is coming off. That's good for stonks.
You don’t trade for money, you trade for freedom.
he's not wrong.
You don’t trade for money, you trade for freedom.
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.Brian Earl Spilner said:
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.
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.
You don’t trade for money, you trade for freedom.
Prior close showing some resistance yet.
Double top intraday
Want to see 385.15 tested during hours here.
Double top intraday
Want to see 385.15 tested during hours here.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
short TSLA 680P small. 8.7, stop 6.5
You don’t trade for money, you trade for freedom.
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.
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.
moved too fast. wait for 710 again. I'm covering this current set.$30,000 Millionaire said:
short TSLA 680P small. 8.7, stop 6.5
You don’t trade for money, you trade for freedom.
QQQ & AAPL are diverging here. Not normal
this worked out if you took.$30,000 Millionaire said:moved too fast. wait for 710 again. I'm covering this current set.$30,000 Millionaire said:
short TSLA 680P small. 8.7, stop 6.5
You don’t trade for money, you trade for freedom.
last general to fall. AAPL needs to see 120texagbeliever said:
QQQ & AAPL are diverging here. Not normal
You don’t trade for money, you trade for freedom.
Redler had line in the sand of 138.8 for AAPL this morning.$30,000 Millionaire said:last general to fall. AAPL needs to see 120texagbeliever said:
QQQ & AAPL are diverging here. Not normal
$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.
You don’t trade for money, you trade for freedom.
I shorted the first rejection into prior close. And the 2nd as a double top. Watching now.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
SHOP up 7%.
TSLA has a downtrend line from 4/11 & 4/26 close that i think is giving some support.$30,000 Millionaire said:
lets see if TSLA can really give it up here.
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.
I already have one going in AMD. Trying to set one up in AAPL.
132.60s may find some larger support.....maybe$30,000 Millionaire said:last general to fall. AAPL needs to see 120texagbeliever said:
QQQ & AAPL are diverging here. Not normal
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11