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

To: Walkingshadow who wrote (349)	5/23/2005 9:00:32 PM
From: Gush	Read Replies (1) \| Respond to of 4814

Me too bud.. At least you have time to 'break even' or perhaps profit :~) Back when the 2 of us went short I don't believe the stochs(5,3,3) confirmed the trend.. That's where I think we went wrong... What do you think?

To: Walkingshadow who wrote (349)	5/23/2005 9:36:23 PM
From: Kevin	Read Replies (1) \| Respond to of 4814

I agree fully with you that the technicals on the Qs looked considerably oversold when you said that you shorted. I know sometimes securities can push the overbought condition even further than "usual", but usually that's due to some sort of strong driving news (whether company-specific or industry-wide, depending on the given investment). I'm not sure if the Qs will fall far enough for a profit on your short, but I do believe that we'll see a retracement through one or two levels of support , that are former resistance levels on the rise. Have enjoyed reading your postings. I always respect the analysis from a person that looks at the facts. Good luck on your positions.

To: Walkingshadow who wrote (349)	5/24/2005 12:46:43 AM
From: J.K.	Read Replies (3) \| Respond to of 4814

Hey Terry, Not trying to go against the grain here (and if anyone questions my motives, I'm the first to acknowledge that I've learned more from you, Terry, than anyone else on SI), but I honestly don't think we will get much of a selloff just yet - too easy of a call. Looking at past scenarios like the one we have here, I think we will start seeing some sideways, but choppy action at these levels, with likely a spike/push to well above the 38 Qs. Terry, please look at this chart: stockcharts.com[h,a]daclyyay[dc][pi!d20,2!f][vc60][iUk12!Up14,3,3]&pref=G I don't see the volume overhead at 38.00, but instead at 38.50 area. BigCharts shows the same picture. Maybe you have some other data I don't have that reveals a different picture. OTOH: If we break 2040 on the NAZ (37.50 Qs) then I'll admit the above scenario is out the window and we're quickly on our way to the 2005 gap fill. J.K.