Invesco QQQ Trust Series 1 (QQQ)

[farooq]

My views on market,

It's a phenomena seen in market that when price Gap up and run after some time prices come back and test or fill those gaps, some time it takes months , some time more but it usually more true for indexes.
Here is the reason I see market is correcting.
Interest rates are going to be 4.5% in 3 year period which in theory brings market down to 25% .
Run from 2605 to 2872 was a short squeeze so I do not take them in consideration, so market can correct in 9 months period to 651 points to 1954 area as it happens often it usually swings more so we can see 1746 by November.
Our fiscal policy will keep dollar low we need to borrow more, rates will go higher because we are asking more money to balance our budget.
Productivity gains will be hard to come.
WIth higher interest rate public have alternative to keep money safe, so money will exit stock market.
Lower stock price has wealth effect in reverse so our economy can shrink, which can exaggerate down turn.
It certainly does not mean we could not attempts to try new high but seems unlikely at this time as I am writing. I do hedge my holding so I do make less but I sleep well.
I do keep these things in mind but trade on my simple system. I did bought some calls so if market goes up I can benefit, but it is 0.01% of my portfolio.
I was wrong many times before and I will be in future also.
Good luck and happy trading.