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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: DOUG H who wrote (4241)	1/25/2005 2:30:40 PM
From: Walkingshadow	Read Replies (1) of 8752

Hey Doug, I just quickly looked at that QQQQ chart (daily). I take back what I said.... looks extremely oversold now, with early buy signals. A long position is risky, yes, but there are signs QQQQ may rally for a few days or so. And I see no reason to go short right now either (unless you are already short and playing the medium term trend---under those circumstances, I personally would not cover, and in fact I have been short for a while now). I am tempted to go long here myself, but keep the short position for the medium term. If I do, the position size on the long will be considerably less than the position size on the short because the risk on the short is less. But then again, this is probably not a good idea in my case since I won't be able to watch things for a few days. You might want to check with Reid, I really can't look at things in detail. Gotta run now, but best of luck. T

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