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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: Jacob Snyder who wrote (75819)1/13/2023 3:00:19 PM
From: Jacob Snyder2 Recommendations

Recommended By
ajtj99
Robert O

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Shorting QQQ: initial position at 280. Will add more every 1% upmove. If we stall right here, I will add more. schrts.co

Reasons:
1. Bloomberg is, once again, talking about SoftLanding. Wishful thinking.
2. Earnings estimates still too high.
3. Markets betting on Fed Pivot this June. More wishful thinking.
4. VIX far below its 100dma. No fear.
5. Market upmove led by BBBY and crypto, which is hilarious.
6. QQQ above its 50dma
7. 280 was support, mid-November to mid-December. Might be resistance now.

I am prepared to short in increments, up to 310, but I doubt we get that high. 50dma +10% now at 304, has been the limit of bear market rallies.
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