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Strategies & Market Trends : Playing the QQQQ with Terry and friends. -- Ignore unavailable to you. Want to Upgrade?

To: J.K. who wrote (4)	5/11/2005 9:55:46 AM
From: Walkingshadow	Read Replies (1) \| Respond to of 4814

Hmmmm... Interesting. QQQQ opened up a bit this morning, but is not looking strong... drifting down to test the intraday support at the 40 ema (5 min chart). 139.142.147.22 Volume so far is pretty unimpressive. T

To: J.K. who wrote (4)	5/11/2005 11:49:51 AM
From: Walkingshadow	Read Replies (1) \| Respond to of 4814

JK, there was a huge surge of supportive volume as QQQQ traded down, just before 11am. I don't like that one bit. 139.142.147.22 This is exactly the scenario I had been anticipating for months.... QQQQ might see-saw up and down a few times and repeat this pattern, and store up even more "energy". It could simmer for a while longer. But now, there's enough of this to power a sustained move up, and QQQQ is very close to the solid support that forms the bottom of the mid-term correction. So, QQQQ is a time-bomb now, and could surge upwards at any time. That makes a short position too risky from here on out, until QQQQ hits much stronger resistance levels overhead. I'm gonna cover my short position and flip long QQQQ here, and I'm gonna liquidate all my cash positions also and go long with this and that. Now is the time to throw everything you can into this market. It's gonna move, especially if the $SOX comes back to life. T