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9.8 More On Market Corrections
Market corrections will always occur over time, no one knows
the longer term performance of the market. Best not to try and buy/sell/wait, or out guess the market, best to just stay put.
After a market correction in September 2020 when TQQQ went
from 90 to 55. TQQQ went back up by mid Feb to 110, followed
by a few more corrections in Feb and May 2021. TQQQ has since gone back up to over 130. (see chart below).
Note that TQQQ is a triple=leveraged ETF where it moves up and down 3 times more than the underlying NADAQ-100 Index. This makes the fluctuations of the
chart of TQQQ appear larger. Fluctuations are not risk but and opportunity for
option trades to profit more quickly. The significant parameter is that the trend
of the moving average is upward.
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The S&P500 touched a new record on 10/21/2021 joining the DJIA in
wiping out a 2 month swoon amid strong profits and year end optimism
"There's plenty of worry in the market" Chief strategist at Oppenheimer
Asset Management told CNBC's "Trading Nation" on 10/20/2021 during
a big day for the Dow. It hit it's first intraday hightsince 08/15/2021.
