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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (63101)1/9/2003 10:47:24 AM
From: Perspective  Read Replies (1) of 209892
 
Put my QQQ hedge back on again at 26.65. Out for loss of commission. Short exposure reduced 1/8. Down yesterday was labored relative to this up; I should get a better price to sell the hedge in the coming days, with the benefit of reduced risk in the mean time.

Too bad I delayed so long getting covered, but I'm looking for a longer term turn here so my smoothing function is in force. Given the ease of upward progress, I don't think we've seen the intermediate turn. It is close, but not here yet. Divergences may have to get worse before they are resolved. Just no motivated sellers into this rally. The absence of insider selling (earnings reports right around the corner) removes a usual form of supply.

Look at VIX go:

stockcharts.com!b5%5D%5Bvc60%5D%5BiLb14!Lc20%5D&pref=G

BC
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