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ProShares UltraPro Short QQQ (SQQQ)
NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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As of 2:51PM EDT. Market open.
7,961 reactions on $SQQQ conversation
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Another day, another 52 week low possible if Nasdaq continues to trend towards a record.
I have 90% of my money in SQQQ. But I think it's a mistake. I don't think it's ever wise to bet against the stock market. I'm going to hold most of it for now in case there is a drop now but I bought a month ago betting on a drop that never happened. This is a great ETF to have during a crash like March 2020 but I think going forward I won't be making any predictions that the market will drop significantly.
Just to share what the Fed has released after 2 days meeting,
1. The fed raised its expectations for inflation this year to 3.4% but stated that inflation pressures are “transitory”. (Higher than expected but temporary)
2. the committee still sees inflation trending to its 2% goal over the long run
3. the central bank gave no indication as to when it will begin cutting back on its aggressive bond-buying program. (Expected)
4. Jerome Powell stated in the press conference that the economy was not yet at the point where tapering those purchases was appropriate.
5. Jerome also stated that the committee will continue to assess the economy’s progress toward our goals. As we have said, we will provide advance notice before announcing any decision to make changes to our purchases.
Overall, the fed sees that economy was not ready to change the current policy toward asset purchasing program although inflation expectations (3.4%) are higher than expected (Transitory).
Is this a good news for QQQ?
Deja vu every week. Markets never go down for more than a few hours. Nasdaq to da moon.
Just loaded Sept 17th , 9 calls and added to 10 calls...Lobstahmania will strike again!
smart people see what is near:' Big Short' investor Michael Burry warns the 'mother of all crashes' is coming - and predicts crypto and meme stocks will plummet.
CNBC will not allow certain people back on their programs --here are a few that got permantely banned-- bill fleckenstein -- peter shiff -- rick ross-- doug casey --james stack--jonnie bravo-- what is the common thread-- listeners complained they were scaring them-- so you have a network that will never tell you both sides of the coin for fear the viewers will turn the channel -- sounds like the mainstream press will never tell you the trut--not that these guys are always right but I do want to hear all sides and make up my own mind--CNBC has never called a crash or bear market ever-- not one-- seems to me they were telling everyone Bear Sterns Lehman Enron were fine to hold right up until the day they ended ---- never called any crash and in fact just days before the crash in stocks during the pandemic scare they never even gave a heads up were bullish shameless pumpers right into it -- go short here with any inverse ETF scale out slowly and --yes you can time the market-- they feed you noises and fill your heads with garbage-- here is one for the books -- if you miss the 10 best days of the year you will miss out on the gains--funny how they never talk about the other side-- if you miss the ten worse days you are better off even if you miss the ten best -- here is another little factoid for you-- the average stock has made no progress in the past 2 years -- out of 30,000 possible choices you would have had to pick the 20 best ones-- even the worst bets in Vegas have better odds
We may have witnessed today a BLOW OFF TOP... if we can make a higher high today at 10.45, you could be seeing that beginning of a major correction... LOAD UP ON SHORTS... I'm in 100K SQQQ at $9.90....
So this time yesterday the NAZ wen up 100 points and SQQQ dropped 4% or roughly 40 cents today the QQQ or NAZ market is down 100 points and SQQQ only up 1.4% or about 15 cents. How can that be in a 24 hour period?
Higher than expected future inflation, JP Morgan hording cash for a buying opportunity, higher than expected unemployment claims, cats and dogs living together, this whole house of cards is getting wobbly.....way way overdue for a correction..
look at the NASDAQ 6 month chart and you will see a very remarkable triple top formation and that is very bearish! Bodes well for SQQQ.
This traded at $29 back on November 1, 2020 during elections. Nasdaq would have to fall 3000 pts to reach such level. Everyone knows inflation is high, wages are going up and too much cheap money out there. You have the Cathie Wood's out there pouring more money into tech as if nothing happened in the past 11 years. If Fed does nothing, then ETFs like these will continue the reverse split slide cycle. Surprised little attention given to oil rising. It used to be inverse of the market but with the Powell Put, nothing seems rational.
All you can write off is $3K a year as a capital loss.
Perfect SQQQ @ 52 low and this headline today
Producer prices climb 6.6% in May on annual basis, largest 12-month increase on record
SQQQ is the # 1 Buy in the market @ 10.05 Easy Double
9:30 a.m. St. Louis Fed President James Bullard
3 p.m. New York Fed President John Williams
Earnings: Korn Ferry
10 a.m. Existing home sales
10:30 a.m. Cleveland Fed President Loretta Mester
1 p.m. San Francisco Fed President Mary Daly
2 p.m. Fed Chairman Jerome Powell before Congress on pandemic programs and economy
Earnings: IHS Markit, Winnebago, KB Home, Steelcase
8:30 a.m. Q1Current account
9:10 a.m. Fed Governor Michelle Bowman
9:45 a.m. Manufacturing PMI
9:45 a.m. Services PMI
10 a.m. New home sales
11 a.m. Atlanta Fed President Raphael Bostic
4:30 p.m. Boston Fed President Eric Rosengren
Earnings: Accenture, Darden, Rite Aid, Nike, FedEx, Blackberry
8:30 a.m. Jobless claims
8:30 a.m. Durable goods
8:30 a.m. Q1 real GDP (third reading)
8:30 a.m. Advance economic indicators
9:30 a.m. Atlanta Fed’s Bostic
11 a.m. New York Fed’s Williams
1 p.m. St. Louis Fed’s Bullard
Earnings: CarMax, Paychex
8:30 a.m. Personal income/spending/PCE inflation
10 a.m. Consumer sentiment
11:35 a.m. Cleveland Fed’s Mester
1 p.m. Boston Fed’s Rosengren
This will print some serious money in 2022
I love a good bull market but this market makes ZERO sense.
Plunge protection team working hard to keep Nasdaq above 14k.
52 week range 10.04 - 43.00 on yh finance ? I bought today for 10.00
Can someone please help. 1st time trading ETFs. Market down almost just as much yesterday but it has only recovered 1/2 the drop from yesterday? I don't understand. TIA.
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