Lions! Is today's stock market selloff a buying opportunity? Have a look at this. By Gregory Mannarino
Today, the day after North Korea launched a ballistic missile over Japan, the stock market opened up deep in the red however, it appears that there may be opportunity in Tech.
Earlier today I bought September 29 in the money calls on ticker QQQ.
As most of you know I was short the Q's, and I did ride that trade down over the last several days. I was able to pocket a small but nevertheless profit off that position however, I believe there was opportunity, at least for a bounce, with regard to the Q's.
Happy trading!
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Gregory Mannarino @marketreport
You would have definitely thought the happenings with N. Korea regarding Japan would have been felt a little longer today, but the market made up for it rather quickly. I feel there's nothing organic or real about this market whatsoever. It simply goes where it's led.
Lets see how it goes?! ;)
It's almost a given that when we see a significant pull back in the majors, they rebound the following day(s) and fill the gap.
👌
Thanks Greg for the tip. As a minnow in the stock market as well, this is the kind of tip that is helpful for me thank you. I'll see how it works out for me. Looking for the bounce.
A very helpful blog thanks !
Well In cold war situations I guess market goes down
Greg's da man. He's got the plan
He has our back but never give 'm flack
An opportunity in tech? I'll have to check
But Greg knows da stuff he would not bluff.
metals and cryptos sore... give Greg a ROAR.
Follow his posts or you may be toast.
Lions and Bears know that Greg cares.
The green will crash so get out of cash
But Greg is da man he has a plan
So give him no flack cause he got our back
Great post bother @marketreport.
@bukharisulaiman
Ehhhh, Greg still too skeeerd to disclose exactly which strike he went with on his new "behind the scenes" Q's trade....soooo, looks like "more of the same" as opposed to a great post. Ifn you see UVXY shooting up through $37 tho...come back and ask him if he is still holding the Q's trade. :-) It'll be easier to gauge his "buy hard assets on the dollar collapse!" rant tho. I hope those actually buying hard assets have hard asses...as they are about to be shredded. :-) One thing we do "know" for a fact is that today's QQQ low of 141.06 is going to go bye bye with an even lower low. Feel free to come back and ask me how I "knew"...whenst (not if) you see it.
"Might be" a good time to take the BEST advice Greg ever gave. If you piad the "princely" sum of $2 to buy Greg's Ebook on how to trade options...it's rule #1 >>> "If you follow me into ANY trade I make (in this case long teh Q's) and you don't hedge your bet by taking the exact opposite side of my trade, you deserve to get your ass kicked!" :O No kidding, Greg actually said that on several occasions. :-) I took his advice via a long in the VIX to $12 via tomorrow's expiry. Nope...didn't even take 'guts"...just following Greg's advice. :-) QQQ now at 142.72...and 'fading" fast! You ready? >>>> Gulp! :O
This dude straight up looks like gordon gecko...
You "might not" recognize him after I work my magic on his "short the dollar!...buy hard assets!" call. :-) Follow my blog to see my buy call on DUST and short on GDX. I figger DUST will double in 1 to 3 months...I'm going to go with a short out to Rocktober on GDX. Shooting for the "mythical" 1000% gain on that trade via the GDX put options. But of course you will have to follow me to see the purrfect Ty Ming on that trade. Yes, that is a shameless plug. :-)
watching ....