Last week was my worst since February this year, during that ATH SPX high, but this Virus Bubble is one for the books that will soon pop.
Some of my losses were self-inflicted but you cannot deny the powerful surge in NQ that dragged along most sectors. I closed my remaining NQ long this morning with a profit of, get this, 182 points. Good, but this, and my NQ profits this morning & XLF profits so far today, may still not be enough to compensate for the PUTS losses when the cash market opens.
I will reopen hedge lower and load up on NQ long daytrades, but this is a market that is ready to pop - maybe not today or this week, and the gains & losses swing wildly in big-size NQ daytrades, vert scary at times, and it is tempting to bank daytrade profits as much as possible. However, this means you lose out on tacking on more profits when NQ jumps 25 points in 2 minutes!
I will try to accumulate at least 40 QQQ PUTS, and buy XLF on the dip for my LT Portfolio. On any big decline I will buy individual banks. One lesson learned in the big 2007/2009 bubble and crash is: if you must buy stocks or ETFs during a crash then stick to the financial sector since the FED bails them out, first.
Warren might get this one right, I am am supporting him on this one:
https://ca.finance.y...-121015499.html