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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Jacob Snyder who wrote (74311)	12/1/2022 11:09:10 AM
From: Jacob Snyder	5 Recommendations Recommended By ajtj99 Bocor Lee Lichterman III The Ox towerdog Read Replies (2) \| Respond to of 97584

Started shorting QQQ at 292, using SQQQ. Add more every 1% upmove in QQQ. Add at least once a week, even if QQQ doesn’t go up, as long as it stays above its 50dma. Think about closing the position, at 50dma -10% (currently at 249, just below the October low). I am prepared to hold for months. Earnings estimates are coming down, but still too high. Consensus estimates still expect 2023 earnings to be higher than 2022. I think that won’t happen, and I am willing to make a leveraged bet against that IrrationalExuberance. I also think the Fed means exactly what they have said (emphatically and repeatedly): no rate cuts till 2024. I also think we will have at least one Exogenous Shock to the markets in 2023. The social/political/military/economic stresses are very high.