Missed dust, disappointed I missed oil today, OXY APA nice runners Sold most TNA SPXL to lock small profit, put in bounce long orders TVIX 110 112 114 plus SDOW, in case market drops midday or eod
I missed dust too, but bought gold (barrick) at almost today’s min. I’m soooo happy for mine ccl, kss, m . Sold NCLH to yearly .... These three I will hold for now, great I did not sell them yesterday. Bought some PTON.
%% A sideways/slop/chop trend will chop profit to pieces, especially leveraged. Actually being on the right side of the main trend ,with a 3 x etf is much better than options. NO expiry date on 2 or 3x etfs, generally speaking...………………………………………………….. IN other words a sideways chop slop trend-- better off in a cash ETF, with dividends. I have traded soxs but not so much + its below $6 now/LOL Gaps tend to profit in a good trend/on the side of the main trend/usually; usually don't gap against me in an etf. They are a risk + even more so in a single stock.
Excellent points. I've learned that the hard way. In choppy markets the 2x 3x ETF premkt gaps frequently reverse direction after 9:30. I usually start buying minor gaps up starting premkt 7AM but that hasn't worked well recently in inverses. Oftentimes their lod pivot best time to enter is after 10:30
%% Tech etfs are still strong/200dma; but many summer months in DIA +IWM= those tend to be weak, summer months........................................................Have to be a quick trader to profit in sqqq/ i seldom trade that one/LOL
%% TNA is up today/nice but down long term+ near bottom don channel + top tail on monthly charts.Dow ran up so much yesterday i may have stalled ?? UDOW is not even @50% level on 52 weeks chart; i made a bit off a udow trade around $50, but it trended so sloppy/LOL. I liked DDM better/but i happened to catch the timing better...........................................................
I finally mastered a strategy similar to this and was able to double my account in 2 months. What will kill you is that first in first out rule. I was doing it with the nasdaq100 in an account in the UK where there is no fifo rule. Take prifits when the market gives it to you in either position, let the lossses ride until market turns. I'm thinking of trying it with etfs in the U.S. Can I ask which broker you use?
%% Summer rally is stronger than i figured; good exit from TQQQ. Most years XLK does better than QQQ...................................
%% That could work well; except where one side is a real good trender. Example= ERX + ERY ;one of those may never turn well.............................................................................. May work well with QQQ........