Here's the P/L on yesterday's position opening weekly QQQ $68 Calls (expiration 4/12)
At a cost of $1.01 and a fill of $1.40, yesterday's QQQ position brought in almost +39%. I closed half the position because of momentum and held half because I think there's some more to go. Either way, 38+% for a day isn't too shabby.
QQQ 1 min from yesterday, this morning there's an intraday negative divergence.
Since it was on the 2 min chart as well that made the probabilities of a pullback and loss of momentum higher, in fact momentum has started to fall off.
The 15 min chart is still moving toward confirmation so I have no problem leaving part of the position open after having taken some initial profits.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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