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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 (810)	6/13/2005 3:49:44 PM
From: Walkingshadow	Respond to of 4814

I don't think so, Gush. This is a setup for a bull trap. Besides, there are no indications yet of reversal. I suspect we will see QQQQ reverse no higher than $36.50, although there will be some head fakes along the way. Volume patterns today in general do NOT favor reversal to the upside here... we are seeing predominantly distribution volume, exactly the opposite of what QQQQ needs in order to reverse to the upside. There has been some buying at the lows, but not nearly enough yet to stop the downward pressure. The bears are in control here. T