/biz/ - Business & Finance

1200 @ $24. We’re gonna make it bros

no SQQQ but I'm balls deep in SPY puts

Uvxy call chad here
Sup

>>18172410

>>18172410
SQQQ to the moon

>>18172416
Godspeed, I don't think 13-20% is unreasonable. You will likely break even tomorrow. Question is, where to sell? I'm thinking around $24 here. I'm in at $20.80
>>18172430
Close enough.

I was able to afford 43, will I make it bros?

>>18172430
Equally based

>>18172478
My limit is $30. I usually intraday but I don’t mind holding because this market is obviously fucked.

>>18172483
43 @ what price? I think you're going to make some fucking money my guy.

>>18172410
This motherfucker was $32 a few weeks ago. What's the likelihood of hitting that mark again?

1k in SQQQ and 1.5k in TVIX good luck lads.

>>18172505
Fuck dude don't tempt me to hodl. I might have to hodl to 26 now.

>>18172527
that's higher than most predictions here.
sorry pal.
god speed.

>>18172547
Where are you in at on both? I made a lot of money on TVIX riding it up from $290 to $320 but got scared and sold. Kicking myself over that - I would be a very rich person if I had just held off for a few days.

200 SQQQ @ $28 before everything went fucking weird, and im holding and waiting for the trainwreck from quarantine

im in the hole right now and i dont see any light but i know the sun will rise eventually

Hedged my entire portfolio with puts on this bounce and VIX dip. Literally don't give a fuck what happens now.

>>18172619
That's kind of what I'm doing, I'm hedging my Exxon stock with SQQQ, probably going to have to find a better hedge pretty soon. I think oil will be depressed for longer, and a lot deeper, than the overall market. I will continue to scoop up Exxon shares in any case.

>>18172508
43@ 21.50, only had $1k. Is this shit seriously going back to the $10ks? Is it really this simple? They made a god damn movie about these exact fucking shorts.

>>18172678
about sqqq? whatchu talking bout willis

>>18172678
I have no fucking idea. This market is extremely volatile - in hindsight, I think TVIX would probably have been a smarter play (but let's not kid ourselves, they're both YOLO plays.)

Having said that, I don't think 15% gain by lunch tomorrow would be out of the question. I believe we're hitting breakers tomorrow, but I thought we'd hit breakers last week too.

>>18172553
I mean it’s obvious to me what’s happening, I think we have another solid 2-3 weeks before the bottom is in or it’s “priced in”. We haven’t even hit peak death rate yet.

>>18172748
True but I can't hold SQQQ for that long.

I should have bought some TVIX, fuck.

>>18172678

Are you talking about SQQQ? Max you could hope for is $100 at best...

>>18172662
Oil is going straight to zero and below unless WW3 breaks out. Global trade is going to slow down for at least a decade, the largest user of oil is cargo tankers, plus the introduction of electrical vehicles and America's massive reserves means there's much less use for it unless it's for the tanks and bombers.

>>18172714
TVIX was first to move up, it'll be first to move down too

>>18172762
Don't do all in. Wait until the market falls a bit to confirm that TVIX is a good purchase. Also I wouldn't recommend holding TVIX over night. Remember how the market would swing up over night? That causes TVIX to drop from 600 to 300 instantly. You're better off selling TVIX at night and then buying TVIX the next night before close when the market swings back up.

>>18172678
SQQQ isn't going back to 10k lmao

sell at 30

>>18172789
>Oil is going straight to zero and below unless WW3 breaks out. Global trade is going to slow down for at least a decade, the largest user of oil is cargo tankers, plus the introduction of electrical vehicles and America's massive reserves means there's much less use for it unless it's for the tanks and bombers.

Doubt.jpg
https://abcnews.go.com/International/patriot-anti-missile-batteries-saudi-arabia-called-question/story?id=54020686

Not a single oil producer on earth can sustain below about $23-25/bbl. Not a single one. It's going to be low for a long time, but Exxon isn't going under, and neither are the other large caps other than possibly Marathon, whose debt/equity is high.

Exxon can go for years and years without even cutting its dividend at current prices. Until recently their debt was higher rated that the US Government's.

Anyway, yeah maybe TVIX wasn't so hot but I'm still kicking myself over not hodling and selling when it hit 325.

>>18172793
Bag holding these ETFs is literally the best way to make/lose money. All the market movements happen in the last 30 minutes or in the first 5 minutes.

>>18172410

>bought a bunch of TQQQ at $56 a share during the crash

I'll be fine in the long term, r-right?

>>18172793

Markets swinging up or down doesn't have anything to do with the VIX, its based on the price of SPX options. Big swings overnight would probably increase the VIX, regardless of the direction.

>>18172929
y....yeah =]

>>18172814
Any other SQQQoldiers have input on where to set a sell limit? I am thinking below 30, I want to be conservative and say, sell @ 25 tomorrow at the absolute most. 25 would be a 20% increase from Friday's opening price, and 17% over close Friday. Is 25 even realistic for tomorrow? I guess the market would have to fall what, like 6% tomorrow to get me to 25? I think 6% is a bit "optimistic" for SQQQ in one day - might get out at 23-24.

If we have a "circuit breaker within 10 minutes of open" I'm definitely out.

>>18173094

I guess if I was holding SQQQ right now I'd be thinking this is the peak of a dead cat or the middle of a W bottom and would sell or at least take profit when QQQ hit 170 again.

>>18173094
B U M P

SQQQOLDIERS REPORT IN

>>18172587
TVIX is at 404$ a share and I’ve lost 144$ on the SQQQ because I bought at 25$ a share. I started about two weeks ago with $5000 and it’s at $5600 now just by buying whatever random stock was getting shilled on this board

HODL
This shit is fo real yo

>>18173196
Thanks - not unreasonable advice.
>>18173228
Did you take your losses on SQQQ? I don't think 25 is unreasonable tomorrow. I have a limit at 25 right now actually.

>>18172410
I'm sorry that i have to ask this dumb question but is ProShares UltraPro Short QQQ ETF the thing you are referring to when talking about SQQQ ? And should i buy some when the market opens ?

>>18173395
Yup - this'un

https://finance.yahoo.com/quote/SQQQ

I get day trading or even swing trading, but what sort of idiot would buy and hold a leveraged etf?

>>18173469
Thank you anon

>>18173395
jesus. please google shit next time.

>>18173488
the kind that if it weren't for jerome brrrr last week would have made 100+% gains faggot

>>18173388
I did take my losses on the SQQQ I’ve also taken real heavy losses on GUSH I’m just going to wait and see what happens with the oil war and pandemic.

>>18173693
bump LOL

>>18172410
511 at 25 ... When should i pull out?

>>18173997
unironically 25

>>18174018
If triple circut breaker then what?

>>18174041
30 lol

>>18174076

Then they try to printer brrrrrrrr right?

>>18174114
they unironically have to run out of paper and ink eventually.

>>18174114
Yeah but then they buy more with the money they just printed.
It's like a perpetual motion device.

>>18174176
the paper and ink will be worth more than the money they print.

In at 24 doubled down at 19 and sold Friday at the bell for a small 1% or so loss. There have been some massive green dildos so be careful SQQQ bros

just don't fucking dance

screen cap

see you in 10 hours bobros

>>18175188
what are you trying to say i'm confused

hodling 260 shares @ average price of $23

>>18175352
nigga you'll break even and then some tomorrow.

>SPXU reporting in

Nope, heavy in SVXY and UPRO. Bottom was put in as much as you want to deny it. Way way way too many traders staying short as we head higher. Market will fully recover by Q3 and this will be called the Little Great Depression or something like that after jobs stabilize.

>>18172410
Cocky bullniggers from last week are gonna learn their place. I can't believe they fell for the bulltrap.

You are not supposed to hold SQQQ. There are so many bears this might be the actual bottom.

Hodling 108 $27 average probably. I was fomo-ing while at work

>>18176012
are you fucking nuts dude? this is clown world. there is literally nothing wrong with holding SQQQ overnight - litearlly all the gains or losses happen either at open or close.

I bought in at like $20.80 friday afternoon. i made 10% in like an hour. i'm going to make another 10-20% tomorrow, then sell.

holding overnight is the best thing you can possibly do with SQQQ in these times.

>>18176164


>>18176164
I bought at 27 ... Got shit on over night. Never came close to getting back all week. I cut my losses and burned 150 to get my money working again. No matter what you do, obey your stops. This shit will burn you. Even if it's a meteoric loss tomorrow, I still probably wouldn't have come back to break even. The fed pump is real. Remember they are literally playing with infinite money hacks.you can't even trust the patterns anymore.

>>18175941
Imagine being this delusional

>>18172843
Does the credit cut of Exxon's debt actually matter?

>>18176776
Why wouldn't it? Realistically ... People who were slated to die within a few years just happen to be getting ahead of the game. It sucks. Definitely don't wish it on everyone. But with all the overboard stimulus, realistically why wouldn't it consolidate over the next few days and eventually maintain it's overall trend upward. I think tomorrow will test fractional support or at worst retest support. The fed will literally make it look like this even if it wasn't going to under untouched circumstances. There isn't much wrong with the underlying economy. Shit was definitely a little overbought but this could have easily been a climactic setup.

>>18172410
no SQQQ but SPY $245P 4/24 w/ average price of $9.50. Can I stay confident anons? I have paper hands.

>>18176700
You are a pussy stop trading

SDOW leader standing by.

>>18178250
I too hold SDOW
Can you feel it soldier? A great reckoning is upon us; glory is at hand.