ProShares UltraPro Short QQQ ETF (SQQQ)

[Agoura Guy]

A TRADE SETUP FOR NEXT MONTH... WAIT UNTIL AFTER THE INTEREST RATE ANOUNCEMENT AND FOR THE PRESS CONFERENCE. SOMEONE ALWAYS ASKS POWELL A LOADED QUESTION AND AS SOON AS HE ANSWERS THE PPT GOES FULL BLAST.

ALSO, WITHIN A MINUTE OF THE PPT PUMP THERE IS A CRUSHING DOWNTICK THAT TRIGGERS STOPS FOLLOWED BY A SUDDEN SHARP REVERSAL. THE DOW GAINED 700 POINTS IN LESS THAN 15 MINUTES.

NEXT TIME I WILL BE WATING FOR IT. THIS IS WHAT HAPPENED LAST TIME AS WELL.

THE DIFFERENCE TODAY THE BUYING COULD NOT BE SUSTAINED AND A GOOD PORTION OF THE GAINS WERE GIVEN BACK BEFORE THE CLOSE.

I EXPECT THE DOWNTREND TO CONTINUE.

AT LEAST I SOLD YESTERDAY ANTICIPATING A DEAD CAT BOUNCE TODAY AND I AM BACK IN SQQQ AT A LOWER PRICE.