All Entries Tagged With: "qs"
Market Update – June 1st, 2009
The market continues to crush the bears after impressively moving off the March lows. I have been one of those bears taking a beating by waiting for a short signal but then getting stopped out again and again. My opinion is this is still just a rally within a bear market. It’s not uncommon to [...]
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 Overview – June 11th, 2008
Taking a beating! Like we said on June 2nd, the down move was probably not over. The last few days of trading have sent the Qs into free fall after breaking the uptrend channel that started in March. The primary trend is still down but notice how far price is from the 20-period moving average. [...]
Market Overview – June 2, 2008
Just like we predicted, the Qs traded down to 49.00 (48.96 to be exact), bounced off the bottom channel line and closed right above the 20 period moving average. Does that mean the down-move is over? My guess is no. We may see some sideway trading for the next couple days or a small bounce [...]
Market Overview – May 30th, 2008
On the 20th when the DIA broke it’s upwards trendline we said the market would probably fall back to at least 124. Well we fell to a low of 124.37 as you can see on the first chart below. Since then we have traded back up to test the downtrend-line that started last October. With [...]






