Replies to post #12532 on China Unlimited

[RealDutch]

QQQ was down 30% a couple of days ago. Now it is down 25%.

SPY was down 20% a couple of days ago. Now it is down 17%

It is obvious why they bounced. Because we've already had a severe correction. And there is more upside for QQQ with obvious resistance now close to 317, roughly 5% higher. We could easily go up there and/or go sideways from there for a while.

Which is why I said we should buy december puts. And I think SPY is better because it also has a lot of air in it and I can still see it drop 40%-50% this year from the peak.

So it's not going to be easy from here. Double up when QQQ reaches resistance. IMO.

[Petrejus]

...and a good day to take some profits.

A beautiful day to buy more puts.