For amusement purposes I track the number of minutes spent with a bullish ATR trailing stop each session....above or below 50 percent of the 390 minutes for a session is often the thing of interest. I've seen days and days when they can stop it on a dime at 194 minutes.....the max number below 50 percent. So as of yesterday, TQQQ had been below 50 percent for 7 days in a row. Today would be #8 in a row, but I haven't seen anything more than that before it reverses. It doesns't always mean higher prices are immediately going to happen.....they've already been happening. The downside is usually quite limited. That's where this is heading.....
TQQQ
Started by
LMF
, Jun 20 2019 10:01 AM
3 replies to this topic
#2
LMF
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Posted 20 June 2019 - 10:41 AM
Before the FOMC announcement yesterday I was starting to expect 2 things on TQQQ (one or both).....
1. When they get a bullish stop, price may start going parabolic nearly instantly
2. Needing to hold TQQQ overnite to capture the price gains
If price was on a Point figure downleg this would be different, like it was in May. This is the opposite.....
Edited by LMF, 20 June 2019 - 10:45 AM.
#3
diogenes227
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Posted 20 June 2019 - 11:39 AM
Simple black candle markers.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#4
LMF
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Posted 20 June 2019 - 12:28 PM
Some back of the envelope numbers on the stops for TQQQ versus SQQQ.....
SQQQ has bearish stops Daily, weekly and monthly time frames
TQQQ is missing the weekly bullish stop that flips up at 70.44 on a Friday close. Trading right now at 63 and change....
