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...
The trend is your friend here.
It does look like January will be a good month after all. MACD finally > 0, so new uptrend established. I figure the NASDAQ probably has a good 5% more before the end of January. Let's ride this trend for some upswing.
TQQQ in at 44.70. Target = $49 (if NASDAQ 100 goes up 3%).
I don't think this rally based on the jobs report, Powell recognizing that market fluctuations will play an important role in the economy and thus the fed's decisions, and China agreeing to resume negotiations with Trump on trade has enough fuel to push the market through this cloud. The fear is so strong at this point. Investors are selling every rally. First...
-1st 1 hr might be uptrend after oversold rebound.
-If touch 50% Fibo it might be a reversal.
Disclaimer : It's just an idea ONLY, all trading risk is depend on your responsibility into it.
My quant model predicts
Profitability: it has a high probability(69%) to rebound at this level.
Worst Case: it could drop to $30.84
Money Management: Bet no more than 11% of capital
Suggested Strategy: long stock for 5 Days, I know it is scary to Long here!
I see us going down to around 43. With Twitter, Facebook are way over bought, I see us hitting the 43-44 zone Monday then making a jump up to 46 afterwards.
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TQQQ
