Playing the QQQQ with Terry and friends. Message Board

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Strategies & Market Trends : Playing the QQQQ with Terry and friends.

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To: Kevin who wrote (161)	5/18/2005 8:57:45 AM
From: Walkingshadow	Read Replies (2) of 4814

Hi Kevin, I don't think the market's reaction will last long. Currently, QQQQ is trading up almost 0.4% in premarket, now printing $36.83. We will probably see a run at $37, but I think the chances are very high that QQQQ will get turned back there on this attempt. In my view, these economic reports have little or no lasting impact on market trends or direction. They have only short-term influences, almost always less than a week, typically only a day or so. This time, I think that moderately bullish CPI will affect the market for less than a day. I think we'll see QQQQ pull back later in the session. That's what the charts and indicators are telling me, but I have not checked the market internals yet. I suspect the internals will confirm that impression, and if I get a chance I will check them. T

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