2022-01-21
BTC and SMH Break, Amazon Loses 2008 Trendline
The two strong horses are broken, semiconductos and BTC. Apple is broken. Nvidia. Facebook. Microsoft. Paypal. Google is rolling over. Amazon broke its 2008 trendline. Nvidia. The stocks below are the top-10 holdings in the Nasdaq 100 ETF (QQQ). Previously, this setup was almost always a bear trap. It feels like the bears know this, so I believe the risk of a major plunge today is higher than normal. Right now, I plan to be back in cash by the close. I am currently at 67 percent cash.
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I'm going to bottom fish SOXL and LABU-wish me luck!!
ReplyDeleteI might join you around midday if the SPY plunges to the 200-day MA.
DeleteGreat-I'll keep an eye out for that SPY level. I might add more SOXL but at three times the fun it is kind of harrowing!!
ReplyDeleteI got roasted. The bottom became bottom-erer.
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