7/24 Today's Watchlist: MIST ABUS DAL AMD SQQQ SDOW

7/24 Today's Watchlist: MIST ABUS DAL AMD SQQQ SDOW

bear bias; bought inverses premkt sqqq best chart

 

It is gonna be bloodbath today for spy

 

dam, could have made another $500 bucks on ENT, bummer!

 

I see ALBD at a max price of $3.17 at 2:20 pm yesterday; how did you buy at $3.19 and when did you buy please?

 

I doubt so. Over the past few hours, ES moved relatively very little compare with NQ.

 

I bought all of these premkt today

 

%%
KC;
Ive gotten burned more on overnite shorts/buying inverse etfs, than long etfs;
but sqqq @$6.55/6.58 seemed worth it yesterday + was-- by morning today...... I'm expecting spy/dow to be down some AUG/SEPT-they tend to be down then. Not a prediction; 2019 Stock Traders Almanac...………………………………………………………………………………...

 

thanks for posting your plays Calhoun.

Very curious why shorting 14 different tickers? I understand you may want to be short everything possible but wouldnt there be much more value in having larger positions and being able to manage the trades better? For example SOXS, daily range is like .40 why have 20 shares? it seems more trouble than its worth. Why shorting the overall market as well as biotechs, semiconductors, where is the value? if you are wrong you now have to manage 14 positions ???

Also, why buy premarket? you are basically going against the recent trend no?

I am familiar that you say you have been trading for two decades now, I would be very interested in knowing the thought process behind these trades.

Thanks

 

Sure... I'm not short anything; I buy inverses SQQQ UVXY SDOW SRTY SPXS LABD SOXS etc. Look at 1yr charts, lots of upside when markets sell.

Size: I often use tiny placeholder positions to keep track of what to trade, then scale into several hundred shares when price moves in my favor.

Sometimes premkt gaps continue, so I put on small initial trades. Today was relatively flat. I'm holding several $k of inverses for weekend hold.

I trade 7 or so inverses to diversify across markets. Goal is to scale into $40k or more if big selloff, starting small to minimize risk.

 

thank you kind sir,

yes that was a mistype. what I meant was why are you shorting the market with 14 different positions. If I am not mistaken everything (other than UVXY which is calculated using volatility or "fear") is basically just shorting their overall sector. ie buying SOXS is basically shorting the semiconductors sector but with a 3x range.

I have a different process but I thank you for sharing yours with the community. I see your thought process on it, seems like a lot of trade management to me but if it works for you, more power to you!