NQ Update

Oversold and hit the trendline, so probably a weak bounce here. Terrible inflation news so I'm not even gonna try to fade the gap.

I bought some COIN puts on the morning gap fade attempt since I think cryptos are gonna tank over the weekend, but then again I say that every Friday, lol.

Not gonna chase anything else with puts since NQ and ES are oversold.

코멘트:

Market meltdown, throw the indicators away I guess. You noticed I said don't fade the gap today, shorting the pop was the right move.

It does look like it's hit bottom, and SPX very rarely gaps down 2 days in a row without filling the gap, so still expecting a weak bounce. Not worth the risk to play it.

코멘트:

Note I said rarely, all bets are off if cryptos tank over the weekend.

코멘트:

Wow, look at my garbage stock board today:

DOCU, SFIX, NET, DOMO, COUP, COIN, ROKU, RBLX, DDOG, FSLY, PD (LOL), LPSN, NLS, W SQ, ARKK, AFRM, WK, OKTA, SNAP, PTON, UPST

All down over 5%

So is QS, I think that's a great long term play when it hits single digits

코멘트:

Today is a good day to look for garbage stocks, anything down over 5% is garbage. I will do more research over the weekend to expand my list but I'd appreciate it if you guys could share your list.

Anything under $10 is hard to play with options, and I very rarely touch anything under $5

코멘트:

Also, I do not expect a big gap down Monday unless cryptos tank. Even then the market will probably reverse itself and fill the gap if it happens.

The most likely scenario is a bounce.