TQQQ Trading inside channelInitiated a short position here. Looking for 10% gain. Stop loss at 5%. 2-1 risk/reward ratio. Will be mainly using the pitchfork and as a visual guide, and using my macd signals for alerts. For the last 2 months, if you initiated short position at the upper band of the channel just after the (close long) alert signal, and closed short position at the first (open long) alert signal, then you would have 3 successful trades for about 10% profit each.
If for some reason, the price breaks out of this pitchfork channel, then the strategy is voided. Profitable alert signals rely on heavy volatility, that's why I'm covering triple-leveraged ETF.
TQQQ trade ideas
TQQQ - Short Put 17 Jul 20 55Opened yesterday for a credit of $3.22 per contract. Cash Secured.
With mostly cash in my portfolio, I think it's a good time to use the wheel strategy:
1. If TQQQ ends up above 55 at time of expiration - collect premium
2. If put in-the-money: start long on TQQQ
2.a. sell covered call on TQQQ
TQQQ Target:[$100.00] Target Date:[07/01/2020] ROI:[38%]NASDAQ-100 INDEX
The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on The NASDAQ Stock Market based on market capitalization. The Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology.
Last week, the Invesco QQQ Trust (QQQ) crossed the $100 billion in assets mark, joining three S&P 500-based ETFs and a total stock market offering from Vanguard.
CFRA rates QQQ as a five-star diversified U.S. equity fund, believing it has a high probability of outperforming in the next nine months due to its low costs and high reward potential, despite slightly elevated risks.
Exposure to the biotech sector which is poised to profit from therapeutics to treat the coronavirus and future pandemics.
Analyst Ratings
Firm Name____________Rating
FactSet ________________A
Ned Davis Research _____BUY
XTF Inc. ___________10 out of 10
Morningstar, Inc.* ___ 5 out of 5
Zacks Research ______Strong Buy
Top Holdings
MSFT
Microsoft Corp
11.92%
AAPL
Apple Inc
11.19%
INTC
Intel Corp
2.97%
CSCO
Cisco Systems Inc
2.11%
NVDA
Nvidia Corp
2.04%
ADBE
Adobe Inc
1.95%
PYPL
Paypal Holdings Inc
1.42%
AVGO
Broadcom Inc
1.19%
TXN
Texas Instruments Inc
1.18%
QCOM
Qualcomm Inc
0.98%
TQQQ... very hot again this week. Should we expect a pullback?I expect TQQQ to hit the weekly support (brown) beginning/mid next week, and to start to pullback halfway to the middle of the hour trend line (blue). Then, will see :)
Feel free to comment, as the more we comment, the more we will win this together.
Long TQQQ/NDXPrice will cross-over the resistance line and re-establish the previous trend line. The market previously attempted to follow the trend line on 2020-02-28, but failed 2020-03-04 with the failure of the oil markets as the catalyst for panic selling.
Oil futures and copper futures are showing strong upward movement with no resistance in site providing assurance for strengthening global economic conditions.
The argument could be made that considering without the oil market collapse news the trend line would have been maintained . . . now that that market has recovered . . . the trend line should re-establish.
The market already tested the resistance line twice, and both times failed to result in a major correction. If TQQQ/NDX was going to bounce off the resistance line aggressively it would have already done so. There may be some pull back, but nothing major.
OPENING: TQQQ JUNE 19TH 35 SHORT PUT (LATE POST)With rank/implied at 74/124 and the at-the-money short straddle paying a whopping 33% of the value of the stock price in the June expiry (57 days until expiry), sold the 84% probability of profit strike for a 2.06/contract credit late in the session.
Break even of 32.94.
XOP ETF at a historical extreme!The XOP ETF has been shattered and we have gone below levels back to 2008-09 on our Short Term Oscillator. This sets up a potential snap back rally as the rubber band has been stretched to the downside to an extreme level. We don't give financial advice so please do your own research.