ThicRog t1_jecs43n wrote on March 31, 2023 at 1:46 AM

Reply to comment by mrnotadvice in Went long QQQ calls today. I feel very dirty. by mrnotadvice

You reckon price will stay at resistance for the next 2-4 weeks in a bear market?

mrnotadvice OP t1_jectnx6 wrote on March 31, 2023 at 1:58 AM

What resistance do you see?

Also, the NDX isn't a Bear market. Either is the SPY technically. If you are talking about all the shit that is going on: banks, CRE, crypto, Fed - yes, that's bearish - but it will take time. My ONLY risk going long QQQs is an outlier news event from one of the members of the shitlist in the previous sentence.

If you see resistance please point it out.

Thanks

ThicRog t1_jecvpsy wrote on March 31, 2023 at 2:14 AM

Oh QQQS, my bad on the wrong chart. Do you know what the beta is for it. Would be interesting to estimate how far that cat could bounce.

mrnotadvice OP t1_jecvzis wrote on March 31, 2023 at 2:16 AM

Beta on QQQS is 1.234 - from TOS.

Also added a new trade for the morning: QLD July calls.

ThicRog t1_jecwwv9 wrote on March 31, 2023 at 2:23 AM

I see the play, solid bro!