Went long TQQQ in 46's a few days ago (same time as TWOU long position, I didn't publish the TQQQ long... and apparently the TWOU long position, sorry). Now TQQQ has hit a decision point. Previous resistance at $49.50 range. Double top, can either:
1) Break through resistance and go higher
2) Small sell off back to $46's.
I don't see any catalysts RIGHT NOW for the market to head lower (except for a rapid drop in oil price). However, if Apple warns again, look out below.
I'm keeping a close eye on this for now (for direction). But for now the trend is your friend (higher), which is also the path of least resistance. I may take some off the table here, let's see.
1) Break through resistance and go higher
2) Small sell off back to $46's.
I don't see any catalysts RIGHT NOW for the market to head lower (except for a rapid drop in oil price). However, if Apple warns again, look out below.
I'm keeping a close eye on this for now (for direction). But for now the trend is your friend (higher), which is also the path of least resistance. I may take some off the table here, let's see.
Comment:
Looked good until the big sell off in the last 5 minutes. I sold all my TQQQ and locked in 6% gains. Will still observe for direction. I still have my TWOU long (looking good).