For those looking for short exposure or hedges to a portfolio of longs, here are a few of the sector ETFs that stand out as short-side swing trading opportunities. While I may add some of these as official trade ideas, I don't have the time to annotate all the charts & list suggested stops & [...]
A with the US markets poised to gap down today, this video covers the near-term outlook along with some key technical levels to watch on QQQ (Nasdaq 100 tracking etf).
Member @specie had mentioned the possibility of an Island Cluster Reversal in the trading room yesterday, which so far, with today's gap down in QQQ has proved to be the case. Should the Q's failed to backfill today's gap & then some, this fairly reliable topping/reversal pattern will likely have lasting bearish implications for the [...]
I've decided to book full profits here, both personally & officially, on the TQQQ (3x bullish QQQ) long trade (current price 92.99). TQQQ was a swing short entered back on Oct 28th less than 2% from the top (from that point) in the Nasdaq 100. That short trade was officially closed out this morning and [...]
I have decided to book full profits on the TQQQ short & reverse to a net long position here at 82.59. Bounce targets & charts will follow asap. Suggested stop below 79.90 (most likely targets will be around 92 & 96, providing an attractive R/R with about 2.70 downside risk & over $9 profit potential, [...]
I am revising the official stops on the TQQQ short trade to any move above 87.00, which will assure a 26% gain since the Oct 28th entry at 117.50. I am also considering officially closing the trade soon, possibly today. Additional notes & charts will follow but as of now, the TQQQ short will be [...]