1. I have a strong hunch that you are probably right because I have been relentlessly buying SQQQ for the past month and getting stopped out every time, and right now I'm so close to capitulating and converting bull. Like the FOMO is becoming unbearable. Don't mean to brag, but I'm somewhat of a contraindicator.

  2. Watch for the fake breakout tomorrow morning and a reversal after they get stops. Futures are pretty green.

  3. About to hit overbought but who knows if it will reverse and continue down. It’s above 20 50 and almost to 100ma so it’s pretty damn bullish. (TQQQ that is)

  4. Small purchases cost average down. Usually I buy a small baseline in case the market melts up. In downward channels I just buy at supports. Buy the dip and then it dips again lol.

  5. Leveraged ETFs work in bull or bear markets. Constant up and downs will hurt you. You lose 0.2% weekly from the internal theta losses.

  6. It's a risky injunction. Patterns don't always pan out in graph analysis. If you bet it's going down, and it goes up, it's gonna go WAY up since it essentially just broke out of it's resistance.

  7. OK... so once the Q's hit the $325 mark I considered the downtrend line officially tagged. I bought SQQQ at $36, which oddly enough was pretty damn close to the price of TQQQ. I still hold my shares of TQQQ because I had sold Aug 12 $33 calls awhile back.

  8. Pure speculation, I think it will go down next week. We are really overbought. But i dont think we are going way down until sept/oct. This will be a really slow decline and inflation is not going away anytime soon. There is so much need for employee that wage will go higher and drive everything up.

  9. The buys are still very weak on volume though. QQQ finished at 50% of average daily and that’s been the story all week.

  10. Sell some put spreads or buy calls or pure stock play? I can tell you back before the split I was fuckin with this in the $8-10 dollar range. That is the future of this inverse play, it may spike but always returns to the mean.

  11. I think it’s the right move and bought some today. Might want to fade me as I’m also still in oil.

  12. Didn't nq break that already? Have to look tomorrow but meh... one more solid rally then a decent pullback to a higher low is what I'm looking for

  13. Don’t be early though. See how both the other instances there was a retest, that’s when you want to make the bet

  14. I think you are trying to Gamble with your money, nobody knows shit. Being out à statistical setup and trade only that, cutting your losses short and respecting your rules. THIS IS THE WAY

  15. It’s possible, but weekly is too strong right now with a full green candle. Wait for a confirmation to the Downside before making a move. Don’t want to enter too earlier and get your booty rekt’d.

  16. There are many strong resistance points on the way down that will make it hard for you to make good money off of sqqq. I’d say if we are to be going down any time soon then I would not be impulsive and jump on it as soon as I see any sharp downturn.. it’s better to not get early and lose the initial 5-8% then to get in early just for the bulls to come in and reverse everything back .

  17. Trying to rely on the old technical adage of three hits to the upside. Usually I wait for a small cup and handle to form on the hits to the upside before I acknowledge that it won’t just repel from the resistance line.

  18. I do not understand charting theory on a swap ETF like SQQQ. It is a derivative of an index fund and trades very close to NAV. There is no argument to be made like for a single company that a momentum trade is occurring. There is no mass psychology to exploit outside of macroeconomic speculation and broad tech-leaning market sentiment. Frankly, the concept of overbought and oversold should play out over the course of business cycles, as in years, not days, weeks or even months, because they are index derivatives. It will be driven by broad market earnings and P/E, creating a random walk with a trend.

  19. It’s gonna be volatile for a while, probably won’t see a huge crash but maybe SP will go back to $3,800 I don’t think we’ll see $3,600 again but it’s anyones guess. It’s like weather forecasting.

  20. It’s been an amazing few weeks, but I plan on holding most of my positions long term, so I bought some QQQ September 16 300 puts to sorta lock in some gains.

  21. perfect head and shoulders pattern. Its probably going to set another lower high at around 340 imho then back down

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