Loading ...58% In Sixteen Weeks
Remember today’s date. 07/07/2020. I believe today marks the END of the crazy run in QQQ. It rose 58% in sixteen weeks. In 2000 it rose over 100% in 5 months. That was insane, this is a close second. I expect some choppiness going forward and some of these over valued darlings will make slightly higher highs. A major correction is well overdue. 
Noman…I will take the opposite side for now
So Far Today was a retest of the breakout of a running correction on QQQ
Very bullish IMO
http://schrts.co/kwDzHDHe
PS…the move could be calculated from the point before the corona smash…and it would be less dramatic
Similar to PM stocks BTW
The QQQ’s have had two previous shooting stars that led to ST corrections… I have no position. Just our miners.
Great chefs famously do not reveal critical elements of their best recipes.
You may well not wish to grace us with your reasoning.
But why today? What signs and signals? You may not want to say, but I can ask. If those were charts of a stock whose fundamentals I liked, and if I had cash, I’d buy either. I would consider either chart buyable though not 110% screamingly ideal.
Thanks for the GSV recommendation, by the way.
Karl, They are not the charts of a stock and the fundamentals are terrible. Look what happened in 2000. We may not go down 35% like 2000 because we didn’t have the FED providing all this liquidity then. I’d say at least to the 50 day mvd. if not all the way to the 200.
I have tech leading the correction, likely beginning late this month.
Overall, I’m just expecting a pullback (ABC), not a severe decline.
We are well overdue for a pullback in Q’s but it may just be a short term pause. The looming elections will be for all the marbles. The incumbent admin is holding a great poker hand. The treasury is sitting on a large cash balance that will be deployed a couple of months prior to the election goosing markets and economic activity giving the feeling of boom times in the US of A I have a small position in the SQQQ and as Fully knows it has been quite the pain in the Mojo.
Don’t be so sure the FED is going to help Trump get re-elected, they may, but they are definitely part of the deep state and may let the CRASH happen. End of Trump. End of USA as we know it!