I bought April QID calls just before this most recent rally. I bought them in the morning and by mid afternoon they had a nice profit. Rather than get out, I held overnight. Then this rally happened.
I didn't get out because I knew it couldn't go up more than one day, okay not more than two days. By day three of my denial, my nice profit turned into a substantial loss. Now those calls are so far out of the money and under water that all I can do is hope.
To counter that, mid-morning today I bought some April QLD calls. Most of the day, they stayed flat. Then in the last 45 minutes it rallied to a nice profit. I was not able to get to the computer to get out so have to hold overnight.
I will put upper and lower sell orders in tomorrow morning to attempt to lock those profits it. I don't want a repeat of last weeks hold-and-hope.
9:01 PM
Ann Tucker
The QQQQ is nearing both a retest of the Fib line and the previous 5-yr low (at ~32).
