Replies to post #343 on Invesco QQQ Trust Series 1 (QQQ)

[pstuartb]

as the market prices in the new reality.

To whom is this reality new? ...;-)

[royg1927]

I'm with you there, Dave.

Southbound should be the general direction, intermediate, yes.

Daytraders (me) might score scalps on intraday retracements.

Also might not. But not to worry, the TA stuff works pretty well if one will not try to press matters too hard.

Same thing as always, cut losing positions quick, and the bleeding aint much.

[farooq]

Dave,

I am not very intelligent person so take my views with grain of salt.
This down draft in housing and banking started 14 months ago so we are in bear market for 14 months and most bear market fall in this category.
Last three months of selling is from banks and insurance companies to cover losses and shore up balance sheets this kind of drop you see only when institution sells, public is sold out at 20 % drop or they are there with cash account and very unlikely to sell.
Internet and computer have changed every thing we know about market 17 years ago, except for psychology of crowd.

Why I am writing it because we might miss a good long profit opportunity in our bearish views.
What you are doing and wrote on Ninjas is I like to do.

I went long March 44 calls at 0.87 Cents. It is 2X position.

I wanted to write more but QT is bugging me with alerts.

Happy trading.