I sold into the rallly this morning myself....toook some profits and now seeing the Nasdaq tank....remember Nasdaq is really moving on a few stocks Amazon Facebook Google If you read one of my past posts most of the gains in the Nasdaq in the years passed has been on only 2 stocks....Google and Amazon. How can you possibly rely on a market where gains come from just 2 stocks.
TQQQ I would only trade under $75.....that Triple ETF has gotten way too high for me to trade... Usually trade TNA instead....
I'm assuming profit taking....you have to consider that the media called for a 5-10% drop if Trump took the win....well he won and it looked like they were right after the 5% drop Tuesday night in the futures market but once everything turned around and skyrocketed people jumped on board and were relieved to see the opposite happening....now after taking a breather not seeing the market drop significantly the last two days and seeing historical highs instead everyone is taking profits.
It's quite pathetic that 4-5 stocks literally make up the entire Nasdaq market.....without those stocks leading the Nasdaq would still be sitting under 3000
Yes, that's what my gut ( not my brain) told me yesterday. I actually did cash in my registered accounts (similar to USA 401K) with some nice profits. Of course, you need to realize that I am choosing to trade these accounts rather than do a long term buy and hold, at least for now. Sitting on a lot of cash right now. Doubling up on the TQQQ is very tempting!
http://finance.yahoo.com/news/tech-defanged-stocks-amazon-netflix-160326274.html Here's the explanation.
I would wait for a pullback...just last week the Nasdaq was falling under 5000....even if the Nasdaq dropped to 4000 its still up significantly from its lows from years back.
Seriously..... Why is this even a damn possibility? WTF!!!!! http://www.cnbc.com/2016/11/10/dona...mie-dimon-for-treasury-secretary-sources.html