ProShares UltraPro Short QQQ ETF (SQQQ)

[Agoura Guy]

Last Tuesday (Feb 16, 2021) SQQQ dipped into the $11's during the first hour of trading. Over 10M shares traded in that price range so those who went long and held into this week did OK. Going forward the PPT will try their usual pumps to prevent waterfall selling, but it will become harder for them to make anything stick. The grossly over leveraged market is acting just like it did last year at this time. I won't be surprised if we get heavy selling during the first 2 weeks of March. Late February, 2020 had a blow off top immediately reverse hard into a 36% correction. Yesterday's Fed pump was another blow off top IMO. Fantastic trading opportunities lie ahead, excess margin will be washed out.

Volatility is your friend!