%% ANY 3 x etf is higher risk/ higher reward/ sold [closed some] longs today; SPXS can be higher risk/reward also. Even though buy monday/sell monday can be good for sqqq\spxs. See how they close today.................................................
I think I figured out why Ken is calling the top every time we make a new high. He will eventually be right. Then a couple years down the road he can show prospective clients how he called the top by referring them to a specific post on ET. That's what is referred to as forward thinking.
Glad I sold most inverses into yesterday's breakout.... I learned how the hard way over time, buy the dip sell the rip. Looking forward to re-entering when they pivot up again
The bulls haven't given up yet, I was expecting a short lived mkt drop. However imo, the writing is on the wall, am expecting the mkt to cool off somewhat and my overall view is bearish moreso than bullish next 2-3 months at least. There could be a huge mkt drop up ahead but I'm not expecting that, just the usual October blues, too early to gauge severity.
I'm going to rebuy inverses today if they pivot up UVXY SQQQ SOXS SRTY we had great breakouts today in my chatroom for CCL CEMI NURO etc
Other then a surge in UVXY, there was no "break out" in any of these instruments. Pull up a one month chart of the underlying indexes/stocks.