QQQ
The index got absolutely crushed today. It gapped up and faded all day. No relief bounce or any signs of life from the mega caps.
10ma continues to slope down. 20ma and 50ma are flat. Not a good environment for swing trading on the long side.
My current risk given the market environment: No trading
What I did today
Took an add on TSLA in the 475s, as it’s the leader trying to come out of a 12 month base. Doesn’t look like it was the best decision as it closed way at the lows, and its a bit extended at the moment. Will let it trade from here. Not looking to baby it as it can be a really big opportunity.
Equity + Holdings:
