Just argument purpose I am writing this. If someone is interested really, I am ready to buy puts!
A simple bet will prove who is right and who is wrong ! (Trying to match $2728 with $2775 )
I am ready to buy this put and hold until I gain 50% or until worthless expiry if market jumps.
Who is ready to buy the equivalent call and hold until they gain 50% (market jumps) or until worthless expiry if market crashes.
I expected reply from you, but you read my post half read, that is the issue.
If someone is bullish from here, they buy 9 month LT call.
If someone is bearish from here, they buy 9 month LT put.
If market crashes, it has to crash within 9 months.
You re-read all that I said !
Ignore the BTW sentence as this is only for information purpose. One month expiry puts/calls are not long term perspective! This ST (340) puts, I may sell it in 1-7 days. Normally, I buy SQQQs, but market went way beyond level that made me to buy ST puts so that my gain is supposed to be good.
A random Elliottician proposes a count for component waves. The main wave is the same as the bullish count. The target for wave 3 is 4700-4800 and for wave 5 around 5200
My attempt to count the sub-waves of wave 3 ofc assuming in a multi-year bull trend.
From chart, QQQ would have started retracement or IMHO, most likely start from 366 i.e. has a little more upside. Regardless, I believe pull back would be mere, around 15-20 points.
ofc assuming in a multi-year bull trend.
