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For those wondering, AMZN bottomed just under $88 in the after hours of earnings. Still a ways to go yet.
Investing General Discussion
- Thread starter Furious
- Start date
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SQQQ is for shorting intra-day Nasdaq moves. Not for holding. You can really fuck yourself by holding it. You would have to believe that the Nasdaq is going to go down every day for the next X days to hold it for any length of time.
Wingz
Being Poor Sucks.
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Been swinging this on 5 to 10 point moves for the last couple months. If it gets in the 60s Im selling it.
Aldarion
Egg Nazi
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I checked closed positions because who knows maybe I was crazy and remembering wrong. But yeah, my most recent SQQQ was 9/8 - 9/16 for +13%. Nothing exciting but not a loss.
Looking back at it that turns out to be a pretty useful example, right after I bought SQQQ it dropped, so I held a few days rather than take a loss. (If I'd held a few days longer I could have maybe doubled my gains, but this is one of the parts I suck at).
I get the reasons for not holding these things very long term but I don't see any reason for absolutes like only for intra day trades, there are intermediate time scales where they seem to still work out.
Looking back at it that turns out to be a pretty useful example, right after I bought SQQQ it dropped, so I held a few days rather than take a loss. (If I'd held a few days longer I could have maybe doubled my gains, but this is one of the parts I suck at).
I get the reasons for not holding these things very long term but I don't see any reason for absolutes like only for intra day trades, there are intermediate time scales where they seem to still work out.
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I wont speak to SQQQ specifically, bit you really want to understand the underlying instruments of leveraged funds. For example VIX prodicts can be ETNs not ETFs. You have to know how the notes work and the roll. A few years ago a very popular ETN product that shorted the VIX imploded fantastically. Mucho dinero went up in smoke that day. Mucho.
Tldr: make sure you understand the products you are trading amd how they work.
Jysin
Ahn'Qiraj Raider
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I think the point Mist is making is those leveraged ETFs like TQQQ and SQQQ inherently have decay built into them. When we are in a market with a few days / weeks momentum, they can be quite profitable. But longer and you’re eating price decay. You can see this yourself when comparing, say, a QQQ level we hit a couple months back vs TQQQ and then those same levels reached again months later and see the disconnect due to decay.
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Correct. This was how people were shorting the VIX ETNs. Decay and roll offs gave them a pretty clear downward momentum that was nearly a 100% risk free short play. Until it wasn't
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Flobee
Vyemm Raider
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My surprising star of the year so far is MCD. It bottomed out in March at $217 and has since recovered and set a new high this week at $274.81. Up 26% the last 6 months during this shitty market and dealing with leaving the Russian market.
Rangoth
Blackwing Lair Raider
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Question for those of you with more international experience.
Short Version: Is there any place, as a US citizen, I can store EUR in a "risk free/low risk"(I know it is a relative term) way that will do anything other than just completely sit idle?
Longer Version:
General thoughts or options as a US citizen on what the fuck I can do with a pile of EUR other than stare at it gaining 0%? I basically have no experience on this topic other than how to move it from EUR/USD via my two bank accounts.
Short Version: Is there any place, as a US citizen, I can store EUR in a "risk free/low risk"(I know it is a relative term) way that will do anything other than just completely sit idle?
Longer Version:
- I worked for an international company and as upper level had good stock options. Owned them for awhile, executed a while ago, blah blah
- When I bought the options, I don't remember the exact rate of USD/EUR, but I think it was 1:1.15 or something
- I've since left the company and sold them for fiat(EUR currency)
- That EUR is now sitting in a bank account in the EUR currency.
- I have no immediate fast need for the money, so my idea was to sit on a bit until(if?) the dollar/euro ratio gets back more favorable like it was 9 months ago(pipe dream?) because I bought them in EUR, I got paid in EUR. Now the ratio is something like 1:.98, so while it's not been a "loss" for me, exchanging now feels like a 15% hit mentally
- I was going to put it in NEXO, where I do a lot of crypto storage and trading because they previously offered a decent return on fiat, but US citizens are no longer allowed to earn interest until whatever government regulation is worked out
- I could of course turn it into USD and bring it back into my trading accounts but then I would have to start to do some fuzzy math on if I could turn that into more than waiting on the USD/EUR combo to change and of course there is no bright timeline for that.
General thoughts or options as a US citizen on what the fuck I can do with a pile of EUR other than stare at it gaining 0%? I basically have no experience on this topic other than how to move it from EUR/USD via my two bank accounts.
Convo
Ahn'Qiraj Raider
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Hey stock bros. Modest knowledge with this stuff and Trying to figure out the best move for my vanguard Wellington Fund. I’m learning that the fund isn’t great in a taxable account due to the dividends and sell offs at the end of the year. Guess i didn’t do enough research when I started it years back… Anyway, looking for some advice. Sounds like most people suggest slowly selling off and buying an ETF or at least start reinvesting into an etf instead of the fund. Just wondering if there is anything else I should be considering? I plan to not use the money for at least another 5 years but hoping more like 10.
Rangoth
Blackwing Lair Raider
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If you are not going to use it or play with(true eye-off style retirement) then you should be able to just reallocate all current and future contributions. Is this a 401k? Trying to do slick timing would be mostly useless for the style and time periods you've mentioned.