ARKK bottomfishing here 5/11 $37

Discussion in 'ETFs' started by KCalhoun, May 11, 2022.

  1. KCalhoun

    KCalhoun Sponsor

    i'm still a skeptic (and still in SARK) but ARKK may bounce soon. i just bought ARKK for the first time at $37.... a whopping 20 shares lol. will martingale if bounces, using 34 s/l. not a reccomendation

    aark11mayfdly.jpg arkk11maya.jpg aark11mayb.jpg
     
  2. nitrene

    nitrene

    The real problem is higher rates for longer means more pain for the infinite P/E stocks that she owns. ARKK is one of the few ETFs with no listed P/E which explains its -10% today. SARK outperformed the SQQQ which is amazing considering SQQQ is -3X QQQ. It still sells for 7X sales in aggregate.

    TSLA was holding up but now even it is starting to crash. TSLA below $700 means an air pocket to $540. That's 25% lower from today's close. Even AAPL & MSFT are in trouble technically which means more pain for the SPY & QQQ.

    I'm sure its good for a swing trade for a 20-30% gain. Just buy OTM June options.
     
    David's faith and KCalhoun like this.
  3. SunTrader

    SunTrader

    Depending on overall markets that just might have been a bottom today. High volume into EW time and price long term (weekly) support:-
    ! ARKK.png
     
    KCalhoun likes this.
  4. KCalhoun

    KCalhoun Sponsor

    Nailed the EXACT fkg bottom with 37 trade entry, now at 43. :D
     
  5. SunTrader

    SunTrader

    $37 ?

    Bottom I see was $35.10