Benny Blanco From The Bronx
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Currently the market doesn't care about earnings. If a company reports steep losses it will probably go up because investors will expect a bailout! LOL
Of course earnings will be lousy but NASDAQ 100 companies have a special talent for cooking their books with so much "virtual" revenue to manipulate. A few will however benefit from lockdowns but still have ridiculous PE ratios in any case.
Retail will take a pounding this Christmas and the real story will be in Q1 and Q2 2021. By then millions more will be out on the streets and more than half of small businesses closed forever.
If you believe the next 10 years is going to be the same as the last 10 years keep buying the long side...
Because I believe the 12 year bull run is coming to an end and 2021 will be a bear market.
I don't plan on holding SQQQ for 10 years, only though the next market correction, during which time it will increase in value.
You seem to be obsessed with TQQQ and SQQQ every tick...
SQQQ is a buy in this price range, QQQ's going parabolic. I wouldn't be surprised to see $17-18.
Good news, I would like to buy more tomorrow in the $18's if possible.
They will need stimulus just to pay for the ***ELECTION PUMP*** over the past few weeks!
I have not sold SQQQ to take a loss. My average price is coming way down and I have an excellent chance of realizing profits when this BS election pump is over. Scalpers on the long size will inevitably be trapped and find themselves in a non recoverable position.
Are you gonna buy back in after throwing all that profit away? Come on... chase it! LOL
Added $19.93, the market is parabolic phase, I will add some SQQQ every day until the reversal.
Added $20.59
Still no stimulus deal...
I hope everyone realizes 12 years of constant money printing can't go on forever and markets have reached parabolic stage which is unsustainable. The underlying economy has been decimated while stocks have been pumped to record highs.
Stay long at your own risk. There is lots of air under this bloated fake market to profit from once the rug is pulled, most likely just after the election, imo.
No stimulus so far. How long before the market loses its hopium high? There's no shortage of fearless Tulip sniffers right now.
What happened to your previously botched trades getting shook out of the market taking losses?
As I said, I doubled my portfolio in September and currently setting up for then next downturn that will inevitably come. I don't care exactly when. You have extremely short investment horizon scalping for peanuts. I have longer term outlook for realizing larger gains. If I'm offside I protect myself with averaging. How many times must I explain this to you?
If you're so sure the market will keep going up why did you sell on Friday? Will you once again chase TQQQ higher if it gaps up on Monday?
Smug longs risk losing weeks of gains on sudden bad news like happened before with TQQQ. There still is no stimulus Bill being passed, eventually the market will come to this realization. Even if the PPT keeps the market pumped up for the election those days are numbered as well.
Maybe $18 or $17 ... in the long run it makes no difference to me. I am still mostly in cash from the profits I pulled in September trading SPY Puts. SQQQ is something I like to keep is there an huge unexpected drop. I recently opened up small SPY Put position and will add getting closer to the election.
Who cares? The market at these levels is too risky for me to go long. Something called risk/reward. Many investors will get wiped out when the bottom falls out.
I doubled my portfolio in September by playing the short side (mostly in SPY Puts) and plan on doing the same after the election that isn't far away now.
The last time TQQQ dumped hard it down $12.73 in one day. This risk the market is facing is that Trump has been using the PPT to pump indexes up for the election. Post election there would be no reason to keep this obscene manipulation up. I can't wait for the day normal price discovery returns to the market.
You should be able to buy SQQQ, its an inverse ETF.
I never chase stocks during parabolic moves, way too risky for me, even if I miss further upside.
Remember the story about Icarus?
I prefer to average into short positions during these types of moves and wait for the inevitable rug pull.
I suggest you make your decision within the next 3 hours. The next chance you will have in Monday 4:00AM EST.
The problem is if no stimulus is passed over this weekend pre market will open deep red.
Its your call.
In my experience these irrational parabolic moves end with sharp sell offs. If I am caught on the wrong side I just average my short positions and close during the next down turn. This strategy paid off big for me in September. I expect more volatility this month and in November.
After hours 4:00-8:00 p.m EST
Pre Market 4:00-9:30 a.m. EST
If no stimulus passes over the weekend I expect pre market will be deep red.
GOP SENATE DOES NOT HAVE THE VOTES TO PASS $1.8T STIMULUS DEAL - FBN
Beware when the market suddenly comes to the epiphany that there is no stimulus TQQQ can lose all of its recent gains in a single day. One Tweet away from disaster.
Picked up cheap $350 Puts...
Added $7.78
Mitch McConnell says a coronavirus stimulus package is ‘unlikely in the next three weeks’
The market has risen on hopium, now there's nothing.
Added $21.96
Mitch McConnell says a coronavirus stimulus package is ‘unlikely in the next three weeks’
Extremely risky market to be holding long in. Fundamentals do not support these obscene valuations, this market is entirely Fed driven for the election. The recent pattern of gradual daily moves up followed by sudden sharp drops suggest another one is imminent.
Its not worth the risk trying to squeeze out small gains with so much potential downside. Fools are about the get slaughtered in the near future, no sympathy for them when it does happen.
The ultra low volume rally is running out of steam, next comes the reversal.
Added $22.58
$HTZ is going to zero and will be delisted.
I use averaging over a period of time to build positions, then take profits when available. Between now and the election expect extreme volatility.
Current market conditions are unsustainable, lots of suckers getting trapped once again near all time highs. Its amazing to watch these twitchy ticker chasers buy high and sell low. WTF? LOL
In the end they will lose big time. This level of extreme market intervention won't exist after the election.
$50-$75 SQQQ in 2021
Ticker chasing is not a wise investment strategy. Suckers buying back in after a huge run up will once again be chased out at lower prices after they squirm and panic. These dupes never learn, but funny to watch! LOL
Bankrupt Hertz Drops "Offensive" Plan To Pay Millions In Executive Bonuses
What a bunch of scumbags for trying it in the first place!
Massive manipulation by the PPT. Trump's Tweets change by the hour. There is zero price discovery in this fraud market. Obviously this obscene rigging is for the election, in the long run its unsustainable because they can't rig the underlying economy.
Total BS low volume rally by the PPT and Trump's rescue Tweets, can't wait for the election to be over with.