What are your thoughts on how long you leave QLD trade on ?
The Nasdaq had a follow through day, and per rules I must buy something. All follow through days do NOT lead to a new bull market. But, not bull market has started without one.
I am not sure of your entry price. But, I am thinking that you are up on the trade and seeking a 10% gain vs. a possible 5% loss? The two to one ratio will allow us to lose more than we win and still be successful.
If you bought at $49.50 then a 10% gain would mean your target sell level is $54.40. Your "line in the sand" to sell is $47.05 and you have some room to allow it to "wiggle." If it trades up to $49.50 you can always sell half and allow the rest to run.
The QLD gapped up at the open and there is a gap to fill at $48.32. If the price trades below $48.32 and closes that gap it is healthy and does not mean your trade has failed. You can hold through the gap-fill. But, do not take more than a 5% loss on any trade.
This "rally" is likely to be much like the March 15 to March 29 rally where we see two weeks of buying before is sputters. But, we must be open to all possibilities. If we do se that type of rally this two times leverage to the Nasdaq-100 will do well.
I hope this answers your question.
P.S> I need to attach a chart of the QLD as it shows the gap up this morning. The gap fill level is $48.32.