Posted on 02/22/2024 7:11:30 AM PST by Eccl 10:2
“Yes one can...
with the marvel of our modern communications
I can take my “trading” desk anywhere... any time..
When I was younger I loved to fish .... but I’m older now and hunting and fishing are a little more complicated.”
Exactly. But now my philosophy is keep it simple. Enjoy the moment.
I’ve raised my stops four times today on both QQQ and SPY.
I don’t trust these mega spikes, esp when TLT is up as well (indicating that the Fed is jacking the money supply). If TLT was down, that would indicate some degree of rotation from bonds to equities.
I bought QQQ at 425.57 on Tuesday, and my sell stop is currently 433.80.
I bought SPY at 496.18 on Tuesday, and my stop is currently at 501.80.
SQQQ is at 11.20. On the premise of “what goes up must go down”, I’m thinking of jumping into the SQ to take advantage when the high brought on by NVDIA’s earnings report fades away and the NDX falls back to around the 17000 range.
Yes I enjoy watching the markets gyrations too, and playing the trading game.
But I have two pots, one for serious money, where I have money in the Qs and SPY and it just sits there with dividend reinvestment and some regular contribution. That’s been around for over 20 years. I also have a much smaller Las Vegas pot that I use in playing the market, mostly with options.
And if you really want to have fun the options table is the place to be. It’s actually how I ended up with two serious winners. I sold a BRK-B put that got exercised a couple of years ago at 160. Now it’s over 400. And I did the same when NVDA was around 200 and now it’s at 800,and that’s after a split. I’ve also had some losers, which I won’t tell you about. 😊
So it doesn’t have to be one or the other. Yes you can have the cake and eat it too!
“And if you really want to have fun the options table is the place to be.”
Try trading futures on margin!
“SQQQ is at 11.20. On the premise of “what goes up must go down”, I’m thinking of jumping into the SQ to take advantage when the high brought on by NVDIA’s earnings report fades away and the NDX falls back to around the 17000 range.”
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Me personally, I would wait for what looks like more of a ST high on the QQQs, a fallback, then a re-test that looks like it will fail.
Bonds (TLT is my proxy for that) are still up, so the Fed is still feeding this frenzy.
I don’t think we’re there yet, but that’s just my opinion.
“Don’t fight the tape.”
“So it doesn’t have to be one or the other. Yes you can have the cake and eat it too!”
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Absolutely agreed. That’s where I am. I have about 25% of my assets in SP500 (VOO), 25% in VGT (tech index), and I trade with 50%.
As I get older, I will trade with less %, and put more where I don’t touch it.
“Try trading futures on margin!”
I have a weak heart. Options is about all the excitement it can take. ;)
“Of course no one should invest money they wouldn’t throw out the window at 70 miles an hour on the highway.”
My investments are made with money I would NOT throw out the window.
It was back in the 90’s. Modem link to broker. No live quotes feed.
I'm watching for the 18000 NDX
...probably straddle up on sqqq, but a lot depends on how much gas from the 10yr and the DXY (I pronounce it dax .. )
They have to use to get there and what time it hits ...
I'm itching to jump on the s train ... but I want to be at the right station.Let's see where we are about 2:00 ..
Too much gas peddle left for my taste.
Remember I called 17500 for the close on Friday ... so you can tell where my head is at ... but every thing is in flux,
the base line may be changing ...
or ..... not.
not financial advise ...for ENTERTAINMENT only
Like playing with a hungry gator.
“Try trading futures on margin!”
Learned my lesson from the Hunt brothers ...
“I would NOT throw out “
YA .... my bad ... I should have said “speculate”.
a small pert of over all investment ...
“I’m itching to jump on the s train ... “
$$$$$$$$$$$$$$$
I hear you. I’m watching NVDA. It’s about 1% off its high. (773 now vs 781). If it tries to re-test the high but fails, that could be a signal to at least sell, if not short.
I also don’t want to get greedy here.
“The market can remain irrational longer than you can remain liquid.”
“The market can remain irrational “
And that’s the truth ...
I know your feeling the rush now.... I stepped out early ...
you know the old “hogs get ....” saying, I’m still keeping a half an eye out, I hope to catch a pull back and jump back on the train.
that 18000 ... I’ll have to really do some head scratching...
Raised my stops again.
434.80 on QQQ.
502.80 on SPY.
That’s about 1/2%.
That locks in a minimum 2% gain on QQQ, and about 1.5% on SPY since Tuesday PM.
” if not short.”
Some of my rules:
Never short a bull market
Never short a momentum stock. Especially when it dominates its sector and has phenomenal revenue and earnings growth.
Nvidia cannot meet demand for their GPUs and now they are moving on their software.
Looks like a stop lose raid to me....
When I saw the 10yr up and the DXY up...
the volume jumped ...
I think they caught a lot of folks on a head fake..
now will they buy back is the question...
I still think we’ll see that 18000 NDX .. they want the headline
remember .... this is just for ENTERTAINMENT only
“Never short a bull market”
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Agreed, again. My preference is to get to cash if I’m bearish.
But there’s often an attractive enough alternative to buy, something with at least some occasionally negative correlation to the market. Like oil/energy, bonds (TLT or EDV), utilities if they are out of favor, gold/miners.
But yeah, don’t fight the tape.
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