Cristian Fachiol: I’ve thought about it, but tech is still overall in an upwards trend, so I’m not willing to bet against TQQQ.
Jared Vogler: What’s the best way to profit on an overall downtrending market?
Syed Ahamed: I think after the price breaks below 200 DMA and afterwards if the retest of that fails again
It will trigger major Dow theory sell signal along with many automated stop losses throughout the market
That’d be heavily besrish and way safer to get in SQQQ imho.
Amiras Gandhi: Agreed I’m buying shorts when this happens until then just trade on hourly
Amiras Gandhi: I usually use this strategy. Wait for tqqq or sqqq when on hourly rsi is oversold and and rising and price break above Ema 20. Buy on first successful retest of Ema 20. Macd has to be below 0 and rising. If u meant tired of trading then I am not sure. I would buy sqqq when qqq breaks below sma200.
Amiras Gandhi: This strategy is great and makes sense when u see some bearish(in case of overbought) or bullish(in case of oversold) reversal candlestick on daily. U can clearly see the trade
Jared Vogler: I want to hold something longer than a couple days
Amiras Gandhi: Usually in this environment on hourly it gets at least 1 week to get overbought from oversold and vice versa
Paul Ollivier: I am actually holding TQQQ and bought QQQ puts expiring next 5/25.
Amiras Gandhi: Today so many indices broke down Ema 20 on hourly setting up for good shorting opportunity.
Amiras Gandhi: Keep checking on market indices hourly chart and see if it keeps failing on Ema 20 retest. If that’s the case then new downtrend started but only issue is it’s very nimble. Market still not deciding where to go
Amiras Gandhi: I would wait for fed meeting to be over first.
Justin Beach: Not the best place to allocate funds. Strong earnings haven’t pushed the market enough. Toppy treasury yields are done helping SQQQ imo. Good long term play but not enough risk/reward for swing trades.
Vivek Kapoor: I made $10 on TQQQ from last Tue to Fri. Traded 500 shares. Now sitting out as aapl ER will move TQQQ& SQQQ
Waldemar Carlstrom: SQQQ will do great as the nasdaq crashes but try FNGD also!