TQQQ , LONGTaking an early position here in an attempt to acquire more shares while respecting normal risk with 50 ma as a line in sand for risk .
We are very early here but the difference in shares for a position with stop vs 50 compared to LOD is considerable and if this move up works we should stay above the 50 ma too ...
Pros are that we made it above prior 2 lower highs , which I would say is huge if we can get some follow through .
We also made it above the 50 ma on QQQ but now also on TQQQ now which was lagging...
Cons is lower volume on indices , as I write we are below average relative vol on both spy and qqq .
But still , price is king and maybe we might see a later day volume surge to confirm things ..
Entry 28.49
Stop 27.98
PT1 - sell 1/4, stop half risk
PT2 - sell 1/4, stop same
End of day , may have to adjust position size smaller and modify order based on where we wind up , am over sized for a swing , completely acceptable for an early entry though and risk is only still 0.5% vs AUM , that's very important here .
