This flashcrash will pivot soon IMO. Statistic: Most ATH occur in September. Did in 2020. Friday Triple Witching culmination?
NQ has been bearish but acts more like consolidation at support, making higher lows. NQ is >25% of SPX market cap.
We have seen time and again how the bulls grab every dip and this one likely to be perceived as just another opportunity.
Do not get caught short when it bounces. Expect rally to double top, likely nominal ATH on about Tues 7 Sep.
Indices are all oversold. Notice how QQQ tanked more on Tuesday? RTY has already tested 200 MDA twice, pop likely IMO.
Would not go LONG until MONDAY, will dangle a few shorts until then. See short ideas attached. End game plays IMO.
This WILL bounce, either a countertrend wave or another mad bull runup to new ATH, either way puts, inverse ETFs just melt.
Selling VPS for credit, using credit to buy calls one way to play bounce. Or buy ETFs fgs.
All risky, all scary. Not recommended for the faint of heart. DEFINITELY NOT ADVICE! GLTA!
NQ has been bearish but acts more like consolidation at support, making higher lows. NQ is >25% of SPX market cap.
We have seen time and again how the bulls grab every dip and this one likely to be perceived as just another opportunity.
Do not get caught short when it bounces. Expect rally to double top, likely nominal ATH on about Tues 7 Sep.
Indices are all oversold. Notice how QQQ tanked more on Tuesday? RTY has already tested 200 MDA twice, pop likely IMO.
Would not go LONG until MONDAY, will dangle a few shorts until then. See short ideas attached. End game plays IMO.
This WILL bounce, either a countertrend wave or another mad bull runup to new ATH, either way puts, inverse ETFs just melt.
Selling VPS for credit, using credit to buy calls one way to play bounce. Or buy ETFs fgs.
All risky, all scary. Not recommended for the faint of heart. DEFINITELY NOT ADVICE! GLTA!
Comment:
Gapping down to support at the price target! BE WARY!!
Comment:
Made1k scalping. Choppy and uncertain. MOMO buys NQ and sells the rest. Might get lower Friday. Watch, wait, in cash.
Trade active:
Well here it is again! A nominal new ATH in QQQ. Entered bear spread in Oct 01 372/Aug 30 362 net debit 7.7, ten spreads.
Shorting Oct 01 SPY calls in VCS; -465/+480, ten spreads net credit $1.25.
Shorting Oct 01 SPY calls in VCS; -465/+480, ten spreads net credit $1.25.
Comment:
Bought bear shares in SPXS, SQQQ TZA, covered writes. Don't get into UVXY yet IMO, wait to see it crush.
Trade active:
Added to VCS now short 50 spreads. Buying IWM 220P, QQQ 373, 374Ps.
