With earnings woes stacking up and the market accelerating the rotation out of tech, our bargain trade from Monday is looking to really make us happy. But if it were only that simple. Here is what we are going to look at this morning:

-What to watch on the SQQQ trade and what button to have your finger on

-The bad news about this potentially great trade

-The opportunities the election is creating that you can’t forget about.

Let’s dive in.

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Bargain Options Trade

With the bottoms seeming to fall out of the tech/AI stocks we have to be ready to grab the win today for the calls we looked at in the inverse ETF, SQQQ. It is quite possible that buyers looking to grab this dip could force it back up a bit at some point in the session, so if we see that start to happen we should exit those calls and take the exit. I usually watch a 15 min chart to time these intraday moves.

The Problem

It is critical not to forget that if you are in this trade it is probably because it broke the rules. That drawdown out of the gate really took some of the joy out of this. When we exit we are going to want to make some notes about why we jumped the gun and got in a bit too early. If we don’t, this is just luck and not strategy.

Trading The Election

We had an amazing guide come in from Keith Harwood on how to best take advantage of the repeating patterns we see around elections. With a short window before election day, now is the time to read this and grab the big potential these highly probable moves offer. Check it out here.

Keep learning and trade wisely,

John Boyer

Editor

Market Wealth Daily