With 30 minutes before Monday's open QQQ above Friday's High:
If Monday opens above Friday's High:
Our Model predicts:
30 minute low holds = Monday closes above Monday's Open = Monday's 30 minute low should be the low for the entire week !!! 30 minute low breaks > -20 cents = Monday's closes below Monday's Open
If Monday's 30 minute low eliminates the gap from Friday's close = Monday High week !!! ( Isn't it amazing how that one gap fill changes the whole week's outcome ? )
So our model is expecting another strong week with at least one good down day mixed in.
Unless Monday opens and goes straight down to 331.36 (Friday's Close) we will be buying QQQ Calls and SQQQ Puts in Monday morning is the 30 min low either holds or breaks < -20 cents
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we bought this weeks expiration of the QQQ 332 calls 2.55 avg and we also bought the SQQQ 12.50 puts at .33 avg.
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Tuesday looks to open down, and we will use any weakness in the 1st 30 minutes to add to our long positions. Our model is not predicting a Monday High week so we will take advantage of this move lower to add to our long positions.
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Wednesday looks like it will open above Tuesday high. Our model predicts either we immediately go down right after the open, or we rally +$1.00. We will sell all our Calls if we do not see the QQQ go at least +30 cents soon after the open, and if the QQQ go more than +30 cents we will look for a huge bounce of over +$1.00 above the open.
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Our model pegged it! open at all time high and then toilet flushes! Down -$6.00 in 55 minutes. QQQ made the high and low for the entire week in less than 60 minutes. We bought 332 Calls at the low and are going to lighten up if 332.36 does not break soon. Any questions feel free to message us!
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We held our 332 Calls overnight, and look to benefit from the gap up! Our model is predicting that Wednesday high 335.46 will be broken before the close of the week. We plan on lightening up after the open unless QQQ gets above 335.00 in the 1st 30 minutes, and then we will use a trailing stop. Our 332 Calls Avg cost is $1.95 so 100% ROI is $3.90. We will be looking to sell 1/2 our position there and put our trailing stop in at $3.42. Good luck today!
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We are still riding our QQQ 332 calls and SQQQ 12.50 puts that expire today! We are still waiting for Wednesday High 335.46 to be broken, and then we will start selling.
Trade closed: target reached
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Well that was another remarkable recovery from Wednesday Low! We closed out our 332 Calls for 134% ROI at the close. I sure hope our model's predictions made you money this week. Have a great weekend!!!