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 (4804)	6/21/2010 10:10:35 AM
From: Walkingshadow	2 Recommendations Read Replies (1) of 4814

FWIW..... QQQQ is now hitting my upside target. Some of my long positions have triggered exits already, and I have shifted some of them to short positions. Technical indicators are now overbought, but not extremely overbought yet. Volume continues to be anemic. That, in turn, allows the index to drift upwards. It will continue doing so until it meets selling volume, which will reverse the index. We haven't seen enough of that yet, but I have seen some distinct signs of major algorithmic activity late last week that was probably selling/shorting into strength. That's a pretty common pattern, of course. I suspect by the end of the week I may be completely short, but that depends on how fast this market moves up and how much selling into the rally there is. WS

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