All Entries Tagged With: "QQQQ"
$SPY Elliott Wave Update – 8/11/2009
It’s looking more likely that the correction has begun as declining volume exceeded advancing volume by over 4 to 1 today, the lowest reading since early July. The market also broke below it’s uptrend channel (green lines) signaling a change of trend. Currently the market is sideways as the bears couldn’t break through last Thursday’s [...]
$QID Trade
The market ran into resistance a third time today so I’m going to nibble on the short side again by buying QID. Stop limit @ $36.27, stop @ $34.70, first target @ $50.00, second target @ $72.00.
Big Day $QQQQ
What a day! After a gap down right at support the market just ripped higher all morning then consolidated at the highs in the afternoon. It’s a good thing we closed the QID position last week and bought the Qs. I was hoping to re-enter the Qs today on a pullback after taking profits at [...]
$QQQQ Trade Update
I went short the Qs yesterday but after watching the behavior at these levels, if we hold the swing lows I’ll reverse the position for a short-term long trade. I still think we’re going lower but it may not happen just yet. If we do manage to break the lows we’ll stay short.
Market Update Thursday 5/21/09 $QQQQ
The market fell short of our 950 SPY target and formed a lower high on the daily chart. I still believe we will end up breaking the March lows so just in case this starts the move I took a position in QID (Ultrashort QQQQ) today. The question will be whether the market can break [...]






