Stopped Out of QID | Bought Back In SQQQ

Sometime things happened when you don’t want them to

I set my Trailing Stops at 2% last night on my QID and PSQ positions last night.  QID executed.  Not that I was wanting it to, but that’s what happens in the first 30 minutes of trading.

What’s the lesson there?

The first 30 minutes of the trading day is a kiddy pool bonanza.  What really is happening is all of the overnight trades that where placed are being processed and executed.  Often retail investors try to get a jump on what they believe the markets are going to do the coming day. 

I should not have placed my stops last night.  But rather held off till this morning after markets processed previous day orders and then placed my trailing stops. 

I placed an order this morning for SQQQ at $55 and then $54.46. I added to my PSQ position at $15.14.   

I’m heavily short the QQQ because the intermediate term still indicates continuation of 2023 downward trend.  I’ll continue to short the rallies using the leveraged ETFs until economic changes improve prove differently.  I don’t see that happening for quite some time. 

QQQ Weekly Chart

QQQ Daily Chart

QQQ Trading Idea Results Chart