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iaxson
Jul 1, 2020 7:19 PM

QQQ v7 Long

NASDAQ:QQQ15
Invesco QQQ Trust, Series 1NASDAQ

Description

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how long will it keep repeating?

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see previous posts for QQQ v6, v5, v4, etc.. and QQQ/SPY post

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looking at a target of the black line (245.36 +/-) sometime on or before EOW (shoulder line of last cycle peak)

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could make a longer run like May 27-June 10, but needs to put in another high

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flat top overbought, similar to May 12

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looks like it is going to $270 before pullback?
Chart Patterns
Comments
Gamblerman
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Here we go! 260 this week. 300 by August. Then start thinking about buying puts, but no sooner and probably later in September.
iaxson
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@Gamblerman, 2-3 day pullback... 5-7% ... then green monday and on up... according to QQQv7
Gamblerman
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@mrisaacso, Sounds about right. I got out at the top with another 400%win. I'm jumping back in when the dip is done. My account is up 800% since last May.
iaxson
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@Gamblerman, that's amazing, nice work!
Gamblerman
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@mrisaacso, Onward.
Gamblerman
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300 by August with the usual dip crap. Then look-out.
iaxson
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@Gamblerman, a good way to play this would be to buy long-out of the money call options for that exact price and date, or slightly lower price and later date (I'm holding Sept $270 and Jan $299)
Gamblerman
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@mrisaacso, No, the premiums are too expensive. I'm sticking with August 21st calls. 300 and 285. I'm already 100% profit with the 285 calls.
iaxson
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@Gamblerman, nice
Gamblerman
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@mrisaacso, I usually get out of a trade in a few days or a week at most. This time I'm holding for at least 4-6 weeks. I've made 8 and 10 baggers before, but this time I'm attempting a 20-30 bagger.
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