The market is unduly focused on NVDA earnings due out after the close of trading today. By, "unduly," there no better way to describe what I mean than to present a chart of another high flyer, ORCL, which last reported earnings in September, taking the shares from $240 to $345 the next day, only to see subsequent price action give it all back, and then some. ORCL In other words, we really don't care about NVDA earnings, but have to respect the effect same may have on a very short-term basis. Despite such shorter-term caution, QQQ did close yesterday below our add-on price level of 597.18, so we are all-in on the short side, for both December and January expirations. Active Options - Nasdaq 100 & Bitcoin (Prices as of mid-session Wednesday) There are about four weeks still left until December expiration, but one week of which is Thanksgiving week, typically bullish but always slow and untrustworthy, any new option positions should now go out to January. As market structure remains in a third wave down at multiple degrees of trend, a hard down day or two, headline grabbing kind of action, can come at any time. At some point, I will want to roll-over current December SQQQ positions in to January, but we are not quire there yet. SQQQ 2 Hour SQQQ Jan Calls SQQQ target remains mid-$20's and going out to Jan, 2026, allows for more time for move to unfold.
