DAY TRADE ALERT - TREAD LIGHTLY
Buying TQQQ @ $114.91
10% position
This is a highly speculative trade. Not for the feint of heart. But in playing with an open hand, it's what I'm doing personally.
It's month-end, which means there's a lot of "window dressing" that goes on at mutual funds and hedge funds. They basically only report their month-end holdings and want to look like they're smart. So they'll buy the trendy, hot stocks and dump some other positions - to make investors think they owned the trendy ones all along.
The big stocks in the Nasdaq are all ripe to be bid into the close today. So I'm making a day trade. Whether it's a loser or winner, I will close this trade before the market close.
And yes, I'm aware that Apple is a name I'm short and one of the largest weights in TQQQ (Triple QQQ).
But I'm short Apple longer than today...sometimes we lack patience ;)
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