Long QQQ

10 giu 2017

I believe the tech selloff on Friday was spurred by a rotation to bank stocks in preparation for the rate hike. I still have a long bias. I bought the September 140 QQQ long call in order to give myself time if it goes against me. I entered around 139 when I saw the 138 pivot rejection. I also bought the August 140 QQQ short put in case the move continues. My first target is at 146 with a measured ABCD move off of the pivot rejection, with 150 being my 2nd target.