$NASDAQ-100 Index ETF(QQQ)$ selling pressure here is relentless. However, the index is technically very oversold and poised for a menagingful rebound. But that doesn't mean that we are out of the woods. Downtrend would continue after the bounce so don't get too carried away. Stay safe everyone!
I expect the markets to decline after a dead cat bounce. We're probably half way there if this is not one of those severe pullbacks like the GFC 2008 or Asia Financial Crisis of 1997.
$ProShares UltraPro Short QQQ(SQQQ)$ Downward slide continues for Nasdaq. Short term oversold. I'm expecting a bounce soon. Then another opportunity to short again.
$ProShares UltraPro Short QQQ(SQQQ)$Nasdaq opened higher by 1% but closed down 1%. This is technically very negative for the index. I'm still expecting a meaningful short term bounce before proceeding much lower.
Nasdaq opened higher by 1% but closed down 1%. This is technically very negative for the index. I'm still expecting a meaningful short term bounce before proceeding much lower.
$ProShares UltraPro Short QQQ(SQQQ)$ Nasdaq is slowly but surely breaking down. It has definitively cut below the 200 day moving average. This last time it happened was leafing up to 2008 crisis. Index has already corrected more than 15% from recent peak. I think easily another 15% from here.
$Alibaba(BABA)$ looks like most of the Chinese tech stocks are resuming their down trend. However, some technical analysts believe that since they have already declined so much, when the market starts correcting, these stocks might actually go down less. Let's see what happens and where the share price settles.
From my personal experience bottom fishing can be pretty painful. But this guy is an experienced value investor. Worth keeping an eye out on subsequent developments on Moderna.