Of course! You DO YOU! I'm just pointing out that the CHARTS DO NOT show DJIA as ready to reverse!
It could, of course, which (from my pov/DD) would mean that SQQQ would reverse to the upside (in kind).
HOWEVER, the DJIA chart shows STRENGTH as it moves into a TEST of the ALL TIME HIGH!! And as I pointed out most recently is NOT overbought... Keeping an eye (as I said) on the RSI currently for more information, instruction & direction.
All of which suggests a HIGHER PROBABILITY that the 39,900 TEST OCCURS (as I have said) & has a greater chance of being SUCCESSFUL -- & with MORE UPSIDE from there.
I think I said +2-5% & 7-15% ranges ABOVE would not surprise.
I looked just now at May 31 2,000 calls at $11.00 strike (I think) & the commission was lower @ ~$0.08 = $17,300.-
[Those calls are CURRENTLY at $0.11 -- so obviously I'm predicting -- factoring in some downside]
HOWEVER, this broker is asking I phone in any order about 500 contracts! So the $1,300.00 commish may be on ONLY 500 contracts (that may be purchased online without having to call). We'll see. Wanted to ask why the comission is so high ANYWAY so... Can't wait for them to tell me they are "hard to borrow",... Waiting to hear this line of bullshit!
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Already printing NEW LOW of $9.94 here... & since I'm ANTICIPATING a test of 39,900 (which has NOT happened YET) my investment thesis suggests we see lower STILL here... If I'm right about the DJIA 39,900 test, of course, it would be LIKELY that this moves lower. There is NOT 100% correlation in comparative price action, by they ARE highly correlated imv...
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The LION does NOT concern himself with the opinions of the sheep!
