Last Update: 12/16/2019
(follow @2kaykim for the future updates)
10/28/2019
We’ve seen much of a volatility in August and September, but today, we are back at the July highs closing at 70 on TQQQ. I was able to hold through the fluctuations as I am still holding all of my CALLS since my entry at 52.39 and 61.52. My CALLS suffered its ups-and-downs during the last few months, but has been a very good month this month as they really came around and increased in value just last several weeks showing good gains so far. We have sizable gap-up from this morning which is going to act as minor-term support should the price decline in the next few days. I think, though, ultimately, if price pullback sharply, TQQQ would want to hold 63-65 level in the coming weeks. I am becoming increasingly more bullish in the broad market, and I am very glad to hold these CALLS much longer. Currently I am thinking 90 as my target before I unload some, but it could change. More updates later.
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11/7/2019
Stocks are breaking out (“Market Is Breaking Out” New Post from today) to new all-time highs, and with that, TQQQ is also near ATHs currently. So today, we got few levels to watch should the price slide going into next week. 69-70 level as the next level support for a short-term pullback and 63-65 level as the second level of support should the price decline in a deeper manner. If we do get a deeper pullback, I think 63 would be the worst-case scenario.
Price is extended in the short term but not in the intermediate term, so it could very well consolidate in the short term and then leg higher as TQQQ has been consolidating in the last 4 days. I would buy more CALLS if the price hits around 63-65 level, if not, I will continue to hold my CALLS as I am still holding all of my CALLS since 52.39 and 61.52.
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11/16/2019
I’ve decided to take 1/3 off from my CALLS (entry at 52.39 and 61.52) on TQQQ yesterday at 75.21. As I’ve explained on the Market Update video last night, we may (or may not) see a pullback in the short term. I am still very much bullish in the overall market in the longer term, and that’s why I only closed out 1/3 yesterday. I would add more CALLS if TQQQ dips to 68-70ish, but if it continues to move higher, I would just continue hold my remaining CALLS — so either way is fine for me at this point. I am still targeting 90, but I probably take some off on the way at around 85s. More updates later.
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• EXIT: 1/3 @ 75.21
12/5/2019
TQQQ is holding above the rising pivot (see arrows) so far after a gap-up yesterday morning. It’s hard for me tell if we are going to bounce from here and make new all-time highs, or we are going to come back down and retest the pivot. So here is my plan: If we pull back to 67 – 68 I will be buying that dip, but if we continue move higher I will continue to hold remainder of my CALLS that I am holding since 52.39 and 61.52 (1/3 was closed at 75.21). Let’s see how it plays out, more updates later.
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• EXIT: 1/3 @ 75.21
12/8/2019
NASDAQ has been in a sideways/consolidation mode for the last 2 years (2018 and 2019), and finally breaking out here today.
We’ve had very similar case in 2017 as you can see in the chart below as NASDAQ was in a sideways/consolidation mode in 2015 through 2016 (2 years), and broke out in 2017–see my annotation “BREAK OUT.” In 2017, when TQQQ (Triple Shares of NASDAQ 100) broke out after the 2-year base, TQQQ moved more than 200% in about year and half. Here today, TQQQ is breaking out after the 2-year base and we may see another 200% move which is at 230s (currently TQQQ trading at 77.35).
I’ve been holding sizable TQQQ SHARES in full since the late December of 2018 (30-40s on TQQQ–see my NASDAQ analysis on 1/2/2019 right after NASDAQ suffered -23% corrections) and been adding on the dips all year long (50-60s) as I have plan to hold them (SHARES) for the next 1 year or so. Also, I am still holding 2/3 of my CALLS I bought in at 52s and 61s, my next target is 85-90s before I unload some of them and I have plan to add more CALLS if we see a decent size pullback. So that’s the plan for now, more updates later.
Watch my last Friday’s video as covered major market indices including the NASDAQ.
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• EXIT: 1/3 @ 75.21
12/16/2019
I’ve decided to close 1/2 (from the remainder holdings) of my TQQQ CALLS at 82.47 earlier today with a great gain (holding all of my TQQQ SHARES). Since I am holding sizable position on the SHARES, I’ve decided to unload 1/2 of the CALLS to lock-in the gain as I will be holding remainder CALLS through the month. Technically, we are reaching the ‘overbought’ sentiment but the stocks could stay ‘overbought’ and continue to march higher much longer than we can anticipate before facing the corrections. I think it’s best to continue to give benefit-of-the-doubt to the buyers while I am still planning on buying the dip if it dips to 72-75ish. My next target on TQQQ is around 93-98s. More updates later.
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• EXIT: 1/3 @ 75.21, 1/2 @ 82.47
