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The sublime harmony of mathematical precision (S.H.O.M.P) in The PPT is telling me to take a look at the ultrashort $QQQQ ETF, $QID. A good chunk of the “Q'”s centers around $AAPL“s performance, and based on the daily chart below, I am going to go long the $QID to position for an $AAPL pullback, as well as a broad selloff in technology.
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Please note that I am not calling a major top to Apple here, nor to this rally. I am simply making a multi-day bet that this steep angle, seen above, is more likely to fail in the short term than continue higher. I may very well look to go aggressively long Apple into Christmas. For now, though, I am on the other side of the trade.
All trades are timestamped inside The PPT.
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TOTAL PORTFOLIO:
EQUITIES: 52%
- LONG: 44% ($ATPG $CSTR $HMIN $NANO $TIE $VMW)
- SHORT: 8% ($QID)
CASH: 48%
QID, check, PPT 4TW!
Sold my ATPG and holding the rest over the weekend (DSX, OC, OVTI, VECO and 30% cash).
Not to mention AMZN (even steeper angle)
Yeah this run, at this speed, is just unsustainable