SQQQ Trade on Jul 14, 2021 11:32 from MichaelBLe: Tradervue User Stock Trades.

7-15
7:35AM
Went long this stock when I noticed several FANG names being over extended. Growth names were also losing steam. A lot of growth stocks are in the tech sector. QQQ very extended.

FB

AMZN

AAPL

NFLX

GOOGL

7-16
6:44AM
I am tempted to add another 500 shares into this SQQQ position. I'm seeing some names gap up and giving up their gains so far in the morning. I'll wait for more clearer signs of more weakness.

6:47AM
It didn't take long for me to get conviction on adding more.. I added a smaller 500 shares to the position. Raising my stop to break even which is at 8.54. Trying my best to not let this trade go against me. SQQQ must close strong in order for me to hold the full position going into the weekend.

4:24PM
SQQQ closed strong. I will do some scans over the weekend but so far no sign of a bounce yet. NVDA continued to give back a lot of gains.

FANG names closed near the lows of the day. I'm still bearish on the market so far.

7-19
6:22AM
I took off 1/5th of my position on a gap up. Wanted to lock in some gains here as I'm up multiple R's. Do not want to give up too much profit on a potential pullback in the SQQQs.

6:54AM
Took off 1000 shares as some stocks are coming into support. Just removing some exposure short the market for now.

Inverse ETFs have to be a quick trade most of the time. And this will be the 4th trading day I've been in this name. Being prepared for the other side of the trade as Mark says.

7:03AM
I took another 1000 shares as VIX is rising and the defensive stocks such as COST DG WMT PEP PG etc are starting to go green. I have a very tight leash on the remaining position. It seems like there is a rally attempt with NVDA right now. That is my main focus to gauge whether I need to let go of the position or not.

7:09AM
An observation I made with NVDA and this attempted rally. It takes a lot more than 1 stock to rally the market. NVDA is trying to get going but other tech growth stocks like NET CRWD ADBE AVGO AMAT etc aren't following.

The chart above is 4 different tech growth names on the 1hr chart. NVDA has clear leadership but the other names are not rallying with NVDA yet. I'm still cautious with the market. If NVDA and other tech stocks start to rally, I will flatten my short.

8:00AM
More stocks are starting to go green on the day. I will continue watching the markets for a better condition to trade in.