QQQ
Gapped down and stayed heavy all day. Most stocks today had big pullbacks.
All moving averages are aligned. 10 > 20 > 50. The issue is that there is no separation in thes MA’s which generally means we are in chop.
10 is flat, 20, and 50ma are sloping up.
My current risk given the market environment: Half size - given we are in chop.
What I did today
Didn’t take any trades today. Was looking at potentially shorting SNDK however just thought it would be best to leave things alone.
Boy did I miss out on the GLD / SLV short yesterday into today. Both of them completely broke down today. The overnight Asia open was when it really started to sell off.
Prints:
N/A
Equity + Holdings:
MU pulled back a bit on me but still holding my shares from 350s. Other than that, not much to do, and don’t really see anything for next week. Might be a lot of consolidation ahead, so will be taking it slow.
Hey man, are you still trading?