Darren415
Since I wrote my last article on the ProShares UltraPro QQQ ETF (NASDAQ:TQQQ) a little more than a month ago, the broader markets have rallied, leading to an approximate 25% return from the last week of June. I'm maintaining a hold for
Is TQQQ A Buy After A 25% Rally In The Last Month?
Summary
- TQQQ has enjoyed a large rebound as broader markets have had a good run in the last month.
- While I missed the rally, I still think we could see lower prices and a better entry point in the future.
- This is primarily due to the rich valuation of the largest components of the underlying QQQ ETF.
You can find me on Substack at Kontrarian Korner: CPA and former Big 4 auditor. I break down investments in qualitative and quantitative terms, and I look for investments that will compound my money over the long term.
Analyst’s Disclosure:I/we have a beneficial long position in the shares of AMZN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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