I’m still bearish on QQQ for the next few weeks (and still have a short position from 175.35). I will quickly exit my short if QQQ closes above 175 again (complete gap fill). My target is still the 162-164 support area, which is about 4% lower.
A large part of the reason why I’m bearish on QQQ and the market in general is due to the financial sector (chart above). The XLF has retested the 26.5 low for the 4th time now, and I think we will break below support within the next two weeks.
MU, INTC, and other semiconductor stocks look like a good buy. SOXX tracks the semiconductors, so if you like the charts of MU, INTC and a few other stocks, you could just buy SOXX instead of the individual names.
I’ve analyzed MU and INTC below. I plan to take these two trades near the levels I’ve mentioned. I will update you before next weekend if I take a position during the week.
Hi, I’m Nathan and I’m currently a Sophomore at Boston University majoring in Finance and minoring in Piano Performance. I’ve always found the financial markets fascinating so I decided to start this blog to share my experiences with you. So far, I’ve only been trading stocks for about a year, but I plan to continue trading for a long time. Outside of school and trading stocks, I enjoy teaching and playing piano, fishing, watching anime, and teaching/playing "Go," an ancient Chinese strategic board game.
This blog will be dedicated to sharing my trading experience, what I learned from the books I’ve read, and commentary on the FAANG stocks (Facebook, Apple, Amazon, Netflix, Google) along with the major indexes. I will also have resources that explain my take on risk management, options trading, popular indicators, psychology, and of course, entertaining stories.
I hope to write a book in the near future!
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