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Sunday, March 29, 2020 3:35:54 PM
In my 30 plus years of trading never seen anything close to these types of markets. I`ll been honest $SQQQ is my only holding for some time to come. Call it a gut hedge but there is no reason for the worlds major markets to trade up. It`s all about the algo`s and the FOMO crowd when assumed oversold and then up, up and away, nope bull traps.
Can this market be played on Fibonacci retracements, yes to a point but when your using a 3x`s ETF it`s easier to stop trading and let it play out even with the decay in pricing.
Have a few GTC open orders on quality stocks below where the 1st decline stopped, but if they get filled still doesn`t mean there prices could not go much lower.
Virus=market declines
Recession=more declines
There is no normal anymore.....
What is a Leveraged ETF? - Decay, Risk & Volatility refresher:
https://study.com/academy/lesson/what-is-a-leveraged-etf-decay-risk-volatility.html
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