Last Update: 1/9/2020
(follow @2kaykim for the future updates)
January 2, 2020
TQQQ is now up up +200% since the 2018-Dec lows.
Now we look back, truly, the 2018-Dec lows were the grand opportunity for many of us. But obviously, at that time, buying that dip, the experience was bit different–it was not easy. It was one of those times when you are so convicted on your analysis that the market was poise to have snap-back reverse-rally, you had to go for it.
As of today, I am holding all of my SHARES (accumulated in late 2018-Dec and bought dips through out the summer/fall) and the remainder CALLS (LEAPS) that I’ve accumulated at 52.39 and 61.52.
As I’ve noted on the PART 3, I am still targeting 95-100 before unloading my CALLS completely.
Today, we’ve had very nice thrust in the market, and I think, as the market continues to move higher and higher without a pullback, more people gets nervous. But I think, for me, it helps me to keep my remainder CALLS because as we know, “Markets can stay irrational longer than you can stay solvent.”
But I am not being careless either as I did close 2/3 of my CALLS already to lock in the gain (see the TIMESTAMP tweets below), that’s why it’s easier for me to keep holding the remainder.
I think market could continue move higher as we have violated the 10EMA only once (one day on 12/3) in the last 3 months–very strong momentum.
More updates later.
TIME-STAMPED
January 9, 2020 (FINAL UPDATE)
I’ve decided to close out all of my CALLS completely on TQQQ earlier today at 94.35 with a great gain.
As I’ve mentioned on my previous update, I was targeting 95-100 and we got pretty close to 95 today. Since I am holding all of my TQQQ SHARES since the 2018-Dec lows, I think it was easier for me to close out the CALLS completely today as I can ride the TQQQ SHARES should it continue to march higher.
This update will be the last update because this journal-post was only meant for my CALL positions.
I’ve trimmed quiet a bit today across the board on my aggressive-positions (CALLS) on SPY QQQ TQQQ. Not because I think market will sell off tomorrow, but because I think the odds are catching up against the buyers and I wanted to lock in that gain.
But as of today, I still have not yet closed ANY of my TRIPLE SHARES on TQQQ SOXL SPXL UDOW FAS TNA as I plan to hold them in full through out the remainder of this year while buying the dip in the summer.
Overall, I actually thought this TQQQ trade wasn’t too bad and pretty low maintenance once it broke out of 70s range back in early November. It was a exciting ride last several months as it shot up almost everyday!
Thank you for following my journal posts, I might do another one in the summer/fall.
TIME-STAMPED
• ENTRY: 52.39, 61.52
• EXIT: 1/3 @ 75.21, 1/3 @ 82.47, 1/3 (ALL) @ 94.35
