QQQ Bottom Fishing
Updated
Each successive selling wave is lower volume and the price changes are less each selling day, price squeezing into a narrow wedge, RSI positively diverging; looks like break -> UP imminent IMO; shorting here would be damned risky IMO
Not trade advice, on ur own risk; GLTA!
Not trade advice, on ur own risk; GLTA!
Note
Flipped calls on the PM bounce; not holding over weekend, so weary of waking up to see Red on Mondays! GLTANote
Do not recommend chasing this ETF; chart shows room for one more sell down to 266...Note
If we get an AM sell on Monday will be entry point for longs IMO; remember FOMC is Wednesday...!Note
Might lift again Wednesday FOMC day might not; shorting in October 280P x5 bear spreads vs Fridays 275PTrade active
Forms another bear flag in day; adding 5 spreads, now in 10Trade active
Shorting this rally on the double lower top; C wave soon IMONote
Added and entered SPY 30 Sep 342 puts; DIA 16 Oct 281 PutsNote
In QQQ 16 Oct 281 Puts, same strike price as DIAsTrade active
It sells; added and rolled short legs down and out!Note
Gonna get another waterfall IMONote
IMO B wave is at or near completion; C wave target ~239 - 243Note
Check futures its in free fall ffs!Trade closed manually
Flipped all shorts on the opening gap +51%Note
RSI went oversold, expect at least a small bounce; correction is not over IMO, lower low followed by lower high... stair-stepping to the cascade. C tar 36 pips below B wave top from 281 > 245 or less if extensionNote
Might be forming bottom; visited this price three times; Doji day, no positions.Note
Bear trend continues, short the rallies; panic selling soon IMOTrade active
Considering how bearish broader market is, QQQ only off $4 looks like it's pounding out a bottom. Looking for AAPL to close the $97 gap this week to trigger buy pivot.In QQQ bull spread $262.50 calls short the weekly 272.5s; look for a flip opportunity on retracement.
Note
Added at 262 and doubled down at 261, in 20 call spreadsNote
SPX trades at first support 3230; will it bounce? QQQ -$6 looks like a bounce IMONote
Closed all call spreads +10% beer money!Note
See latest post; look at the volume, it's tiny... B wave!Trade active
Short again in the Oct 23 280P; GLTA!
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