QQQ final near-term downside target hit, reversal all QQQ related short trades to longs. Unofficial trade, this is simply what I am doing with my own positioning. Best of luck to all. QQQ 60-min 2 March 22nd
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 & profit targets right now so I figured that I'd pass these ideas along as unofficial trade ideas at this time for those interested. As usual, my preferences is to short the 3x leveraged version of a sector ETF that I expect to hold for more than [...]
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 stock market. QQQ Island Cluter Reversal April 1st
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 immediately reversed into a long trade at 82.59, a mere 29¢ or 3/10ths of 1% off the lows. Thus, providing a 29.7% gain on the swing short trade and a very quick 12.6% profit on today's TQQQ long day trade. TQQQ 1-minute Jan 14th [...]
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, if successful. Please note that the long reversal trade is an aggressive counter-trend/catch-a-falling-knife trade. DYODD & trade according to your own risk tolerance, objectives, & trading style.