QQQ AI FrenzyIf you are not familiar with this channel take a look at our previous ideas as this is a continuation of our QQQ trade. Originally QQQ presented a great risk to reward opportunity and we entered a position in that trade.
QQQ has out performed our top target, and hopefully at this point you have taken some or most of your position of the table. QQQ still continues going up even when I thought it was due to a break. This came as the result of an unlikely surge in AI stocks that has given energy back to the market.
This movement was not forecasted(By most, myself included) however has taken the market by storm. This is the unpredictability of markets should teach you this lesson. I don't advise shorting unless you are a true subject matter expert and are comfortable holding a high risk position. Estimating tops is hard, even harder then bottoms. I have made most of my money by keeping positions for a long time and having conviction. Its one of the reason i stopped posting much in the last few years.
Adopting a strategy of holding your position can prove to be a more prudent and profitable . With that being said, i favor QQQ to the downside very short term, but i do have confidence that long term QQQ will trend up. We can sell our position or hold some of it. The next dip presents the next buying opportunity. Until then we wait patiently with a small position long.
While we wait we earn 4.6% on our cash investments with decent brokers.(Robinhood gold offers 4.65% on cash) . The trading we perform around QQQ is only to optimize our long term position.
Best of Luck
Ecicic
