UPDATE Feb 23
A quick post. There is a lot to say, but not much to show. We should be on the way down. Once we hi5 the 280s, then the real battle begins as we challenge reasonable value vs. market conditions. We are just too oversold currently.
UP! Again. Yesterday was a supply day. We spent all morning building for the backtest (or more?).
Today, we should open higher. I expect a move towards 301/302, but as I write this, the first leg up looks pretty weak. Perhaps we only get a little above 297. The move up should be a 3 wave move. I believe we did the first leg overnight (b).
$Invesco QQQ Trust(QQQ.US$ Is on a 7 of 9 count. Can we reach our destination in 2 hrs??? I don't think so, but I could be wrong, but with a good GDP number, maybe we get a good run up. We should challenge the 300 range before selling down into the 280s (my targets have no timeline unless I give one)
Once we reach where this retraces to, the markets should reverse and continue back down. This 3 wave down should be eventful. Wave 3s are the longest and strongest. I expect a selldown to below 290 fairly quickly.
$Snap Inc(SNAP.US$ I played for the bounce. opening over 10 and climbing. I expect to overtake the 50 MA, only to give it back.
$Tesla(TSLA.US$ Let's hit that 210! this would create a head and shoulders pattern and send us on our way down.
$Alibaba(BABA.US)$ iam overweight in BABA, I have been heavily buying the last 3 days. C'mon big earnings pop. this can absolutely FLY with a good report.
We should be well on our way down. Today should open an opportunity to go short. Be careful. This market still can turn just to burn the shorts (like today is doing to those that shorted yesterday).
Be Safe, Be Careful, Be Wise and as always
Good Luck ![]()
as an example of how I perceive the markets. yesterday, on QQQ I bought a spread: 50 short dated CALLS at 293, 294, 297, 301. I also bought 200 longer dated puts at 290, 288. Short lift followed by swift decline.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Engineer, Commodity Buyer, Alert Bettor,
Tesla 🌬 Commodities BULL🐘 Precious Metals Dragon 🐲 and OIL Trumpeter 🗣🎺
8194Followers
218Following
39KVisitors
Follow
icezzz : Thanks for update us. Is time start to buy sqqq?
What’s your target exit price for baba?
iamiamOP icezzz: today should be a good day for SQQQ... Baba could fly today. personally I have a 130-137 target for baba, and quickly, like tesla, within weeks.
lucif32 : Hello
Just wanna let you know that I have been reading your post, appreciate your input in this community, it’s been really helpful.
I realised that your tone is bearish now. No more one leg up to break the high?
sTone83 lucif32: If so, then the risk-benefit ratio isn't appropriate... it's too high here (my personal opinion)
iamiamOP lucif32: possible but unlikely
lucif32 iamiamOP: So it short the rip then?
iamiamOP lucif32: yes
intuitive Jackal_354 : I agree
iamiamOP : BABA is dead its price actionkilled it. it will fall to 85 after this coming rebound
NewMe : The market keeps grinding down tonite.. More to plunge from here? No retracement?
View more comments...