Expecting a correction down to the next yellow zone. If that breaks, NASDAQ may get real ugly as in a market crash. Just opened a short position on QQQ by purchasing SQQQ. Any long positions in stocks, I would remain cautious and have stops in place unless they are held as an investment. Ultimately, I am more bearish than bullish in the current situation and I will not be taking any long positions in stocks until the market turns around. Instead, I will be shorting.
Note
Currently NASDAQ sitting in correction territory. A break of the bottom zone and a crash may be incoming....Trade active
Selling looks like it will continue. Took profit today on SQQQ. Swinging a small position on SQQQ over the weekend.Trade closed: stop reached
Locked in profits from the small position swing over the weekend on SQQQ. Expecting market to be green Tuesday where I'll be looking to renter SQQQ to short the NASDAQ.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.