Jil
February 20, 2021, 7:56pm
1741
hanera:
My computation indicates max low is to $322. This year, the length of the fifth wave of an impulse (bull or bear) tends to be 100% of the length of first + third wave. So I believe $325 is the most likely low. Ofc, is the last dip.
I still do not know whether one more dip is there or not, but skeptical with the behavior of market.
If it corrects on Monday, anything between $320 and $325 is a fine place to pick the low price !
I am really doubtful on market slide is done by last Friday.
hanera
February 20, 2021, 9:38pm
1742
Neither do I. I have shown you three possibilities. You have chosen the green option.
If market dips (PM or during market hours), the dip is fifth wave of wave c of wave iv. That is wave iv is a zigzag.
If market goes up, wave iv is either a triangle or a flat. Correction (in EW terms) would last few more days up to the end of Feb/ early Mar.
In EW, up or down doesn’t have as much meaning as a pattern
1 Like
hanera
February 20, 2021, 10:53pm
1743
I will hold 500 TQQQs (about $50k) to ride all the way till completion of wave (III).V.5, expected to be QQQ > 400 (didn’t compute what is TQQQ), comparison starts from Friday close ($104.02, Feb 19) till then, and check which stocks beat it for that duration.
Jil
February 20, 2021, 10:56pm
1744
hanera:
I will hold 500 TQQQs (about $50k) to ride all the way till completion of wave (III).V.5, expected to be QQQ > 400 (didn’t compute what is TQQQ), comparison starts from Friday close ($104.02, Feb 19) till then, and check which stocks beat it for that duration…
Just noticed AAPL has 12.14% weightage on QQQ ! Let us see how it goes.
hanera
February 22, 2021, 2:40pm
1745
Your curse didn’t drop QQQ to even $325!, LoD so far is $325.70, so my GTC sell order for SQQQ isn’t trigger at all! Curse more.
Jil
February 22, 2021, 2:47pm
1746
hanera:
Your curse didn’t drop QQQ to even $325!, LoD so far is $325.70, so my GTC sell order for SQQQ isn’t trigger at all! Curse more…
We are living in a different world.
CVX CAT DE are GREEN as in GREEN. So is QS. Hold the RIGHT stocks.
Market makers will grant your wish soon, wait and watch…the fun
Tech down, mfr up…rotation…
hanera
February 22, 2021, 2:50pm
1747
Some equity investors grew concerned about rapidly rising Treasury yields in recent weeks as they could especially hurt high-growth companies reliant on easy borrowing while diminishing the relative appeal of stocks.
Since when AAPL is a high growth company that rely on easy borrowing? Is an article to scare retail traders to sell.
Jil
February 22, 2021, 2:54pm
1748
Is an article to scare retail traders to sell. => Most of the analysis, when stocks are down, paid advertisement to scare the retail !
Remember, I do not believe in such news/posts, just sharing for fun !!
hanera
February 22, 2021, 3:40pm
1749
Triggered. QQQ should recover since I have no hedge now.
LoD so far $324.64
Jil
February 22, 2021, 3:41pm
1750
Satisfied QQQ=324.88? Too early sell, you should wait until 11:00 to 11:30 AM PST which will be peak dip time !
hanera
February 22, 2021, 3:48pm
1751
I use contingent since I am often afk.
hanera
February 22, 2021, 5:50pm
1752
Look like high quality trade to long QQQ or TQQQ. I mean probability of winning is high comparing to losing.
Jil
February 22, 2021, 5:53pm
1753
QQQ Long call (possible high return, we never know) may diminish with market volatility and time decay, while TQQQ you can hold (low return)
acre
February 22, 2021, 6:19pm
1754
Interestingly RSP continues to outperform SPY. From last year’s March low it has gained nearly 20% more. You wouldn’t think so for all the buzz over the continued outperformance of the mega-caps and out-of-favor value stocks.
1 Like
hanera
February 22, 2021, 6:20pm
1755
Megacaps have been going sideways. My guess take turns, so may be 50% RSP 50% SPY
Jil
February 22, 2021, 6:24pm
1756
RSP=Invesco S&P 500 Equal Weight ETF
SPY=Market Cap weight ETF
True, Result Megacaps (esp QQQ related) dropping more than low caps
hanera
February 22, 2021, 6:34pm
1757
TQQQ re-bounces exactly at 61.8% retracement of the impulse from 88.75 to 112.67.
1 Like
hanera
February 23, 2021, 9:53am
1758
If $317 is not the bottom, next stop would be $307.
Jil
February 23, 2021, 1:02pm
1759
Today is Powell Testimony about economy. By around 9AM-11AM market recovers telling “Powell gave Thumbs up for economy”…like that.
There will be nice stories end of the day.
But everything pre-decided and cooked up, Market correction ends today !
I have become broken clock now for market recovery !
BTW: This is written for discussion purpose, anything can go wrong anytime.
hanera
February 23, 2021, 2:40pm
1760
I do believe this for today. Correction of QQQ is the normal type anyway, drop to the lower degree wave four, I just got over-optimistic.