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: rab120 who wrote (207)	5/18/2005 10:24:04 PM
From: Walkingshadow	Read Replies (1) of 4814

Hi Rab, Well, not being a registered advisor, I can't make recommendations. But I am short as of the close today. I went long on the 11th, and that worked out to 6.8% for a 5 day hold. I don't think I'll get that on the short leg, I'll be happy with 3% profit, and it will probably be a very short hold (2 or 3 days). I'm short now because we have significant selling pressure accumulated now, and QQQQ has gotten way ahead of itself. The chart and technicals tell me we are overdue for a pullback also. I haven't seen the internals yet, but this morning they strongly favored a short position. But I am going to hold this short probably through Friday. I anticipate closing the position as early as the close on Friday, but possibly I might hold over the weekend, depending on what I see tomorrow and Friday vis-a-vis volumes and momentum indicators mostly. T

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