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: Gush who wrote (346)	5/23/2005 8:51:09 PM
From: Walkingshadow	Read Replies (3) of 4814

With 20/20 hindsight, I wish I had stayed long, but the indicators did not support that position, and really nothing has changed in that regard. With that in mind, I just can't justify in my mind changing anything----the basics that led to the plan are still intact, even more so in fact. Today, there was a further production of excess volume pressure downwards that only adds to that pool the accumulated last week. To me, this means the short-term correction could have significant downwards momentum..... there is no small amount of downward pressure now. That said, the uptrend is certainly not in danger. My previous post about the potential reversal zone I think is reasonable, but there does remain a chance that we could see QQQQ fail at those support levels and find a lower reversal point. I think this possibility is small, but definite. So, I still think my short position will do well with some patience. I suspect most of the week will see downside, but late in the week I'll most likely be looking to flip back long again. That will depend upon how things develop with the technicals, and we also need to see some volume surges when QQQQ hits intraday low spots. T

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