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

To: Kevin who wrote (446)	5/26/2005 11:33:16 AM
From: Slagle	Read Replies (1) \| Respond to of 4814

Kevin, I agree and then again what do I know? <g> But some of these ETF's, the more thinly traded ones really jump around in price and have big spreads lots of the time and intrady anyway will make moves leading or lagging their underlying stocks. QQQQ has a high percentage of just a few big stocks. I was looking at this mornings behavior of INTC vs. QQQQ and I see lots of similarities in that about the time the big blocks hit QQQQ similar blocks hit INTC. Besides, if the stampeding herd of hedge funds act together and move the QQQQ that will in itself move the underlying stocks. Besides, the QQQQ price is set by the bid/ask right? If a buyer of the QQQQ wants to "overpay" and buy the QQQQ at a "premium" then that will happen, right? Ownership of QQQQ gives you ownership rights of the underlying if you have a block big enough to be what I think they call a "creation unit"? Right? Slagle

To: Kevin who wrote (446)	5/31/2005 8:59:38 AM
From: Walkingshadow	Respond to of 4814

Hi Kevin, FWIW, oil has broken through overhead at the middle of the BBs and has strengthened technically; now looks ready to continue to rally up to the upper BB, currently just below $54, and there is also minor chart resistance there: futuresource.com Gold continues to slide, but is stabilizing now in an area just above pretty good support at $415. futuresource.com The dollar continues its dramatic reversal, and has recently pushed open the contracted BBs to the upside, and formed a very bullish candle. I think the dollar is ready for a pullback to the middle of the BBs before trying to move higher. futuresource.com The overseas markets were pretty flat. Index futures are trading down moderately, and it now (as of 9:00am ET) appears we are looking at a modest gap down at the open. All signals I see so far point to imminent correction in QQQQ, with the most likely reversal zone around $36.80 or a bit lower, depending on how fast the 20 sma moves up. futuresource.com futuresource.com A break below $38.15 early in today's session would constitute failure at the 40 ema intraday support level, and I think that is likely: 139.142.147.22 T