123 Trends and Reversals Message Board

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Strategies & Market Trends : 123 Trends and Reversals

QQQ 635.77

+0.5%

Oct 29 4:00 PM EDT

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To: Ally who started this subject	2/22/2001 10:28:41 AM
From: Ally	Read Replies (1) of 147

QQQ - Change in Trend QQQ hit its 52 week low and is now poised to break down and test a new level of around $40. The bad news - earnings deterioration, analysts downgrades, inflation signs - continue to pour on, exacerbating an already bearish chart pattern. siliconinvestor.com At present, it is a difficult environment to find swing trades with reasonable risk/reward ratios. Technically, one would short on each bounce, however, with the market so oversold, this strategy would carry a higher risk than usual. Shorting is always a high risk activity, more so when markets have retreated 50% and more. We never know when value managers may come in throes to buy badly beaten stocks. I've sold the 2nd and final batch of QQQ for -10 loss. Also sold WMT for +2 gain. Looking now for new swing trade candidates.

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