Final Update: 3/21/2019
(follow @2kaykim for the future updates)
2/13/2019
What a wild ride it has been in the last few months here. Fortunately, I’ve been holding 2020 JAN CALLS on all of my QQQ holdings, I was able to recover most all of its losses in the last month and half. Today I’ve decided unload 1/3 of my holdings with -3% loss mainly because of this signal (new post from today). If the market continues to move higher, I will slowly unload my CALLS preparing for the potential 5-6% pullback to load more fresh new CALLS after the pullback.
So, have I bought anything new at the lows when we saw that steep decline in late December? Yes, I have.
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• ENTRY: 164.85, 173.61, 166.32
• EXIT: 1/3 at 171.89
Chart screened during afternoon time
Below chart is a weekly-chart of TQQQ (Triple Shares of QQQ) which was screened on 12/27/2018. Which during this time, I was aggressively accumulating SPXL UDOW TNA SOXL FAS (Triple Shares of SPY DIA IWM SMH XLF) including TQQQ, as I am currently holding both SHARES and CALLS on TQQQ (TQQQ is trading at 49.26 today). I will be holding these for a while as I believe you will see these Triple Shares making new all-time highs and beyond.
The steep decline in December was gift for me, so I can accumulate these Triple Shares at a maximum oversold level for the best possible risk/reward ratio (as I’ve also advocated on my 1/2/2019 post “2019 Is Going To Be Huge” analyzing this very index–NASDAQ).
TQQQ Weekly-Chart Screened on 12/27/2018*
2/25/2019
NASDAQ is up now about 22% since the December lows in just 2-month period of time. We did see another gap up this morning, and with that strength I’ve unloaded 1/2 from the remaining CALLS with slight gain. Yes, it was a big turn around recovery and I am glad that I was able to turn it this quickly. As S&P 500 is right on that pivotal level of 280 and given the fact that we just did 20% move on all indices in just short 2 months, I think we may see some turbulence here. But like I said on my last Market Update video, the resistance may be too obvious and that could get us some quick short-term volatility with more upside afterwards. Well, that’s why I am still holding remainder CALLS here on QQQ. I think if we hit 180 on QQQ I would probably close it all out.
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Screened during afternoon time
3/21/2019
This is going to be my final update on this JOURNAL POST on QQQ, as I have closed out all of my CALLS about hour and half before the market close at 182.63 today.
The trade wasn’t the prettiest but it sure beats taking a loss or getting chopped to death; I went long, I stayed patient, and I closed out my CALLS as the market recovered and reversed–NOT because I was scared. Qs is now only about 2% away from the ATH (27% run since the December lows), this truly was the most epic V-shape reversal I’ve ever seen. I am still holding all of my TRIPLE SHARES I’ve accumulated back in late December (see 2/13/2019 update above) and I did buy more CALLS on other indices (SPY DIA IWM) on 3/8/19 as I’ve tweeted that I was preparing to do just that. I decided not to add on QQQ at that time because I had my buy zone as 168, which it never came.
Overall, I am pleased with the trade as I was able to recover well and stick with my analysis.
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