Hambonedome t1_ja689xa wrote on February 27, 2023 at 3:32 AM

Reply to comment by breakyourteethnow in is there fed roulette this week? by bioknockout

You do understand SQQQ is based off the inverse of the NASDAQ, right? And is intended to have a 3x return. Look at the NASDAQ if you wanna go off a chart.

atn0716 t1_ja6ap00 wrote on February 27, 2023 at 3:53 AM

What is sqqq? I tried to look up and understand this fund but couldn't find anything.

Hambonedome t1_ja6c4zx wrote on February 27, 2023 at 4:05 AM

3x inverse returns of the NASDAQ. It’s essentially shorting the NASDAQ but safer

atn0716 t1_ja6ch00 wrote on February 27, 2023 at 4:08 AM

So buying as a stock, the more nasdaq goes down the more this will go up? Like if the market crashes, this will jump a lot?

Revolutionary_Lie539 t1_ja6inbh wrote on February 27, 2023 at 5:07 AM

SQQQ will moon if the world ends.

Hambonedome t1_ja6d13k wrote on February 27, 2023 at 4:14 AM

You got it!

breakyourteethnow t1_ja6cftw wrote on February 27, 2023 at 4:08 AM

Yes, look at the yearly chart and check current fundamentals. Anybody worried about decay is missing out, it's not to hold forever but until March or even April, sure. TA does work for x3 leveraged but used in conjunction with QQQ and NQ.