Hi everyone, I hope you are doing well.
I sold my QQQ long position at 347 last Friday because volatility was picking up and I didn’t want a large gap down on Monday that would go through my stop loss. I originally bought it at 345 about 3 weeks ago, so I got out slightly above break even.
QQQ daily chart below:
Facebook (Meta) has been on my radar ever since the pullback down to about 290. After the disappointing earnings, it looks even better now in terms of value. Since I think large funds are still unwinding their positions, I have a half sized limit order at 200, and the other half will be purchased if it falls further.
Facebook daily chart below:
I’m still holding BABA (no changes there). I also haven’t touched any of my other long positions.
Let’s see what the market does this week!