TQQQ (and the QQQ's) have been range-bound for the past few days, approx. between $31-$35 ($4). This is a little more than the 14-day ATR of $3.00.
In light of this, one way to paper trade this would be to take a long above $35 with stops at $31 and shorts below $31 with stops at $35. This is an 11.5% risk on a 3x leveraged stock which is a relatively tight range for the product's known volatility.
$62 would be great but in bear market??????????????????? im crossing finger here
Test_Monkey
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@aarongoh59920, watch to see if it breaks $31. If it does and if I were holding, I think the best action would be to cut it for a loss (it violates some pretty significant moving averages to the downside).
Test_Monkey
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I try to not prognosticate, but react. plan, execute, don't let a trade go from green to red, and profit.
srr4791
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I believe this would follow the bear market channel and fall low much deeper before it reverses.
victorquanlam3007
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@srr4791, I wish it would happen to drop lower I'm DCA buying everything :)