QQQ MOP WAS UP ALMOST $24.00 LAST WEEK!!!
MONDAY PRE MARKET HAS BEEN IN A HUGE RANGE (289.79 TO 301.50)
THIS LOOKS LIKE A PRECURSOR FOR ANOTHER VOLATILE WEEK AHEAD!
WITH 30 MINUTES BEFORE THE OPEN THE QQQ IS AT 298 LEVEL AND IS CURRENTLY ABOVE FRIDAYS HIGH
IF MONDAYS LOW HOLDS ABOVE FRIDAY HIGH THAN ODDS FAVOR FURTHER UPSIDE THIS WEEK.
WE WILL RECOMMEND CALLS
IF TUESDAY HIGH IS BELOW MONDAY HIGH THE ODDS INCREASE TO ABOUT 50/50 OF A MONDAY HIGH WEEK.
WE WILL NOT STAY IN CALLS IF TUESDAY HIGH BELOW MONDAY HIGH
THE TREND IS UP FOR NOW, BUT WE WILL BE LOOKING CLOSELY FOR A INTRADAY REVERSAL EACH DAY.
IT WILL START WITH A 1ST 30 MIN LOW BREAKING AND VWAP HOLDING THE HIGHS THAT FOLLOW.
WE WERE ANTICIPATING A 1ST 30 MIN LOW BREAK FRIDAY, AND WE GOT RUN OVER HOLDING PUTS.
IT IS BEST TO WAIT FOR THE BREAK FIRST AND TRADE OFF THAT MOVE IF VWAP HOLDS THE HIGH AFTER THE BREAK.
THE ONLY AGGRESSIVE PUT TRADE IS TO BUY PUTS AS CLOSE TO A 1ST 30 MUINUTE HIGH THAT DOES NOT BREAK A TEST OR QQQ DOES NOT STAY ABOVE THE OLD HIGH IMMEDIATELY AFTER THE BREAK OCCURS.
WITH THIS ANTICIPATED VOLATILITY THIS WEEK WINNERS CAN BECOME LOSERS QUICKLY SO BE NUIMBLE!!!
THIS LOOKS LIKE A PRECURSOR FOR ANOTHER VOLATILE WEEK AHEAD!
WITH 30 MINUTES BEFORE THE OPEN THE QQQ IS AT 298 LEVEL AND IS CURRENTLY ABOVE FRIDAYS HIGH
IF MONDAYS LOW HOLDS ABOVE FRIDAY HIGH THAN ODDS FAVOR FURTHER UPSIDE THIS WEEK.
WE WILL RECOMMEND CALLS
IF TUESDAY HIGH IS BELOW MONDAY HIGH THE ODDS INCREASE TO ABOUT 50/50 OF A MONDAY HIGH WEEK.
WE WILL NOT STAY IN CALLS IF TUESDAY HIGH BELOW MONDAY HIGH
THE TREND IS UP FOR NOW, BUT WE WILL BE LOOKING CLOSELY FOR A INTRADAY REVERSAL EACH DAY.
IT WILL START WITH A 1ST 30 MIN LOW BREAKING AND VWAP HOLDING THE HIGHS THAT FOLLOW.
WE WERE ANTICIPATING A 1ST 30 MIN LOW BREAK FRIDAY, AND WE GOT RUN OVER HOLDING PUTS.
IT IS BEST TO WAIT FOR THE BREAK FIRST AND TRADE OFF THAT MOVE IF VWAP HOLDS THE HIGH AFTER THE BREAK.
THE ONLY AGGRESSIVE PUT TRADE IS TO BUY PUTS AS CLOSE TO A 1ST 30 MUINUTE HIGH THAT DOES NOT BREAK A TEST OR QQQ DOES NOT STAY ABOVE THE OLD HIGH IMMEDIATELY AFTER THE BREAK OCCURS.
WITH THIS ANTICIPATED VOLATILITY THIS WEEK WINNERS CAN BECOME LOSERS QUICKLY SO BE NUIMBLE!!!
Trade closed: stop reached:
THE 1ST 30 MINUTE LOW BROKE AFTER LUNCH TODAY AND IT LEAD TO MORE DOWNSIDE. IF QQQ CLOSES ABOVE THAT 30 MIN LOW WE WILL HOLD 297 CALLS OVERNIGHT EXPECTING A TEST OF MOP 295.31.
WE BOUGHT 292 PUTS TODAY AT 1.98 AVG AND SOLD THEM A LITTLE EARLY FOR $2.72 AVG. 38% ROI ON THE TRADE.
WE WILL BUY 297 CALLS IF 292.47 OW HOLDS AROUND 1.80-2.00 PRICE
WE BOUGHT 292 PUTS TODAY AT 1.98 AVG AND SOLD THEM A LITTLE EARLY FOR $2.72 AVG. 38% ROI ON THE TRADE.
WE WILL BUY 297 CALLS IF 292.47 OW HOLDS AROUND 1.80-2.00 PRICE