Day Trading Call: Buy the Dip in QQQ
"Now, if you look at a monthly chart of QQQ, and I'm just going over this is what you should be doing. The dips are getting bought on a five-minute chart. Whether it's the light shaded area, which is after hours, or during the day, the dips are being bought. And where are we today? Well, if you bought in the after hours on Thursday, way down here, $591, you're up again. QQQ looks like it's a buy the dip. And you can use some of these other indicators to find out when you should buy. The MACD was way down here at 4:15 on October 17th. The RSI went all the way down to 17 overbought. If you're day trading this, boom, buy it. Buy it again."
The speaker discusses QQQ with a focus on technical indicators and intraday chart patterns. He notes that buying on dips—especially after hours at around $591—could be profitable as technical signals like the MACD and RSI support a dip-buying strategy for day traders.
Neutral to Underweight Tech Exposure via QQQ
"For the immediate week, investors might consider a neutral to slightly underweight position in broad technology ETFs like the Invesco QQQ Trust, QQQ."
The host advises a neutral to slightly underweight exposure to technology via QQQ due to tech stocks' sensitivity to interest rates and potential short-term volatility from the Fed's cautious guidance.
Trade Call: Buy QQQ for Broad Market Growth Exposure
"For broad market exposure with a growth tilt, consider the Invesco QQQ Trust, QQQ, which tracks the NASDAQ 100. It dipped yesterday, but QQQ futures are up today, showing renewed interest."
The host recommends buying QQQ for investors seeking broad market exposure with a growth tilt. The rationale is that rate cuts lower borrowing costs, thereby boosting growth-oriented sectors, especially technology. QQQ offers diversified exposure to tech and growth stocks, making it a strong candidate in the current low-rate environment.
Maintain Exposure to Tech via QQQ for Rate Cut and AI Boom
"Consider the Invesco QQQ Trust for concentrated exposure to the NASDAQ's top nonfinancial companies, or the Technology Select Sector SBDR Fund for broader S and P500 tech exposure. Lower rates generally reduce the discount rate on future earnings, which is great for growth stocks."
The tech sector is positioned to benefit from anticipated Fed rate cuts and robust demand in cloud services, as demonstrated by Oracle's strong earnings. Investors are advised to maintain exposure via QQQ (or a similar tech-focused ETF) with caution of a potential 'buy the rumor, sell the news' scenario post-Fed announcement.