ARKK bottomfishing here 5/11 $37

[KCalhoun]

i'm still a skeptic (and still in SARK) but ARKK may bounce soon. i just bought ARKK for the first time at $37.... a whopping 20 shares lol. will martingale if bounces, using 34 s/l. not a reccomendation

 

[nitrene]

The real problem is higher rates for longer means more pain for the infinite P/E stocks that she owns. ARKK is one of the few ETFs with no listed P/E which explains its -10% today. SARK outperformed the SQQQ which is amazing considering SQQQ is -3X QQQ. It still sells for 7X sales in aggregate.

TSLA was holding up but now even it is starting to crash. TSLA below $700 means an air pocket to $540. That's 25% lower from today's close. Even AAPL & MSFT are in trouble technically which means more pain for the SPY & QQQ.

I'm sure its good for a swing trade for a 20-30% gain. Just buy OTM June options.

 

[SunTrader]

Depending on overall markets that just might have been a bottom today. High volume into EW time and price long term (weekly) support:-

 

[KCalhoun]

Nailed the EXACT fkg bottom with 37 trade entry, now at 43.

 

[SunTrader]

$37 ?

Bottom I see was $35.10