Update Feb 3
We turned, and I hope that everyone was ready for that mini melt up [Melting][Sell] We should be on the way down now, temporarily. Something pretty important I need to get across right here is that NOTHING HAS CHANGED. The reason everyone was buying will be the reason they buy again. they are only waiting for their price targets to hit, and they will be buying in bunches again.
**** WE ARE GOING UP. I am looking at 312ish **** update to update [Lol]. Keep in mind that non farm payroll comes out an hour before open so it could send the market in either direction. 8am We are running hot, sheesh, the payroll numbers in a half hour, are either going to be fuel or retardant.
OK, how I see this, iam Rufus, your guide, i only have the tools to THE BEST OUTCOME, how long it takes the market to get there and any detours are outside of my foresight. How you travel the path is up to you. I only provide the machine and the numbers. "Be excellent to each other."
Now get ready to
because it's about to get wild
All ride times and turns are estimates [Grin] ... We should bottom around 298, most likely sometime next week (never try to time the market, that will get you in trouble)... BUT until then, it's going to get crazy. The markets have hit the first reversal point and reversed. It seems strong, so we may run towards 312 today. HERE IS THE TRICK We are in a bull market and a melt up - so my WARNING this can RUN as long as it doesn't run higher than yesterday high, because then it gets weird as it would be another melt up *when I say melt up, that is when the stock drifts up on low volume, and when there are this many shorts these melt ups can keep occurring so we COULD melt up again today and get a new high. There is little to do with melt ups, as they are off any charting and just move on zombie action.
*A side note about my warning yesterday (the volcano post was a warning of a blow off top, I hope everyone got that). If you buy puts, be sure to give yourself plenty of time (over 35 days)*
This is how I see it going -
$Invesco QQQ Trust(QQQ.US$ Updated, with new information
$E-mini NASDAQ 100 Futures Main(MAR3)(NQmain.US)$ bollingers pinching, this is going to move! a drop to ~12500 should be support 12800 should be the target today. that's a 300-point range for today
$Tesla(TSLA.US$ can you keep a secret?
Tesla will run maybe 192-4 today somewhere in that range. then the retreat towards 168 as low as 155 (tesla has wide target ranges, that's why I laugh at people who thought I was dumb loading calls while tesla was in 170s, WHOS DUMB NOW!!!) On the pullback, I will be loading up! Why? LOOK AT THAT CHART!!!! that is a cup and handle. When this is finished pulling back, this should run to 220
Sorry, this is so quick, but iam busy busy busy. Money never sleeps. This is a moving target because of the melt up. It throws indicators off, and adjustments are near constant.
We should run up. This is still a bull market, and this is just a pullback for more upside. If you buy puts on reversals, be quick. This is currently a BULL MARKET, and you should be net LONG already. If you are not, be calm, don't rush, don't buy on green days, and wait patiently like a crocodile ready to strike when the prey comes into YOUR zone, don't chase it, your not equipped and will lose.
Be Safe, Be Wise, Be Careful and as always
Good Luck [Worship]
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iamiamOP : if anyone wants to know, I bought QQQ Puts at 320 strike shortly after my volcano post, I can hold these until 298 hits where I can release them and go long again. I still have my stocks, I sell calls, not my stocks. I held most of my tesla calls, sold the OTMs
Revelation 6 : Ok youareyouare, I have one hand on my butt and one on the lady next to me for good luck!
W Chiang : I put tqqq yesterday and sold just now
W Chiang : wish everyone a profitable day
lucif32 iamiamOP: Can you share your expiry?
iamiamOP lucif32: March and april
iamiamOP : rolling over - back down we go
lucif32 iamiamOP: You took profit on your qqq put earlier yet?
iamiamOP lucif32: first thing this morning. i have new positions
lucif32 iamiamOP: Still targeting 298 for qqq?
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