TQQQ trade this morning

Discussion in 'Trading' started by mastertrader456, Oct 17, 2011.

  1. Finding market inefficiencies is the key to trading. Prime example is this morning some dummy NASDQ offer crossed the TQQQ down to 74.20. This is an etf that tracks the QQQ's so for a few minutes you could buy it at a huge discount. Now if it only stands. I will be paid if it does.

    Dont predict the market. Wait for setups like this that give you an edge.

    Trade occurred at 8:15 ET.
  2. Bob111


    what this quote have to do with the trade,you posted above? it's a simple erroneous trade for sake..i wouldn't even call this a trading. it's a no risk,free money execution(assuming that it's stands(i doubt that,based on price and amount of shares executed))
  3. Bob111


    here you have it-

    NASDAQ MarketWatch is investigating potentially erroneous transactions involving the security ProShares UltraPro QQQ ETF (TQQQ) executed between 08:15:00 and 08:19:00 ET today. MarketWatch will advise with details as soon as available. Participants should review their trading activity for potentially erroneous trades and request adjudication through the Clearly Erroneous process within the applicable timeframe for filing pursuant to the rule.
  4. If you saw it you would have hit it....... While 7 out of 10 times these trades break, its free money when they dont.
  5. Bob111


    wow..it is a wild west-

    NASDAQ has reviewed the transactions under rule 11890 (b) on its own motion filing involving the security ProShares UltraPro QQQ ETF (TQQQ) executed between 08:15:00 and 08:19:00 ET today and has determined that all trades will stand. This decision cannot be appealed. NASDAQ MarketWatch has coordinated this decision with other UTP Exchanges.

    somebody will go broke today..over 2M shares traded away from the market. unbelievable
  6. Reason is this. Trade break rules are 6% premarket for stocks above $50. Double that because it is leveraged. 12% is the break range.
  7. Bob111


    congrats on free lunch!
  8. Thanks buddy.....
  9. sprstpd


    Could you provide a link to this? Where do you see this? Thanks.
  10. sprstpd


    The rule is use the regular hours busting percentage for > $50 which is 3% and multiply by the leverage in the ETF. TQQQ is a 3xer so 3 * 3% = 9%. 9% would be the break range in this case.
    #10     Oct 17, 2011