Well, yesterday the market gave us a classic shake-out move. Fortunately, it didn’t reach our stop, and the Nasdaq has moved down sharply today, back below the 50-Day Moving Average. Our original thesis for the trade is still in place. We have moved our stop to SQQQ @ $29.98 which should place us above the 20-Day Moving Average in the NAS100. Target is @ ~$38.00.
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