This morning saw QQQ take a dive just after the Open, taking out the 560 price level and triggering the trade described here yesterday. A mid-morning retracement took the index from its morning low of 558.84 back above 560. Meaning? If and when QQQ breaks below its morning lows, look out below. If you did not buy the designated $545 Sep puts on the initial break today, don't miss either a close below 560, or any new low below 558.84, any time this week. Noteworthy is the Wave C low in April 2025 @ 402.39 a potential -30% worst case basis for the seasonal cycle lows due in Sept-Oct. Plan B In the unlikely event that a short-term low was made with this morning's deep dive, there are a few favored stocks selling at a lot less this week then they were last week. The plan is to slowly assemble a new call portfolio with a some of our favorite names, TSLA, PLTR in particular, Bitcoin and/or Ethereum and finally, a couple new names that I'm eyeing, just waiting for short-term breakouts.
