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

To: Gush who wrote (147)5/18/2005 6:19:48 AM
From: Walkingshadow  Respond to of 4814
 
You're gonna have to be quick on your feet at the exit.... QQQQ can turn against you in a hurry.

But IMHO, you are on the right side of the short term trend, which will be down.

T



To: Gush who wrote (147)5/18/2005 9:16:07 AM
From: Walkingshadow  Read Replies (2) | Respond to of 4814
 
Hi Gush,

We're looking at a modest gap up at the open. QQQQ is trading at $36.84 in premarket.

But FWIW, I will probably flip short today just the same.

139.142.147.22

We need to test lower support at $35.95; the question is not if, it is when.

Personally, I think that will be within the next several sessions, this week for sure.

T



To: Gush who wrote (147)5/18/2005 5:16:48 PM
From: Walkingshadow  Read Replies (4) | Respond to of 4814
 
Hi Gush,

I know you're probably sweatin' bullets with your puts, but this chart I think should give you a little relief:

139.142.147.22

QQQQ is clearly way ahead of itself, and now we see bearish divergence in the technicals.

I think if you are patient you'll get out of this one with a decent profit, but I just hope your contracts don't expire this Friday!

T


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