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: Walkingshadow who wrote (986)	6/23/2005 1:34:33 PM
From: herry iball	Read Replies (2) of 4814

I believe that I've hit my tolerance level of ambiguity.... when the YM was down nearly 60 points and Q's were down a penny, I bailed on my SPY puts for some profit and on my Q puts for lollipop money. Just sticking with intraday index scalping until I see some resolution.....Breadth sucked on the move up but I don't like the risk to reward right now in this slush. VIX/VXN show an incredible lack of fear, so puts are relatively cheap, and I may buy some of my puts back .... this time out of the money's just for kicks and grins. With trendlines becoming nearly useless, and support/resistance being violated consistently, price popping out of and below and back into the 'box', I'll let the brave traders put their money down on which way they think it'll break.... I'm back to mostly cash. If this post marks the official start of the breakdown, so be it, lol. Edit....ooooh, another smack upside the Q's on the pop up. What a surprise. yawn.

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