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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Stoctrash who wrote (10981)12/19/2008 12:16:43 PM
From: Augustus Gloop  Respond to of 33421
 
I want to fire another 1000 share rocket at QID in the 64 range but I'm lacking the nads



To: Stoctrash who wrote (10981)12/19/2008 4:08:41 PM
From: ajtj99  Read Replies (3) | Respond to of 33421
 
I haven't been trading today, and I expected a bunch of sideways goo due to op-ex. Lots of stuff pinned near strikes.

I'm bearish early next week, then bullish into the 2nd week of January, then I think we're going to re-test the November lows by March. We'll probably drag the bottom in a trading range for a couple months after that, then we'll have a substantial re-trace of the move down off the 2007 highs in the latter half of 2009. This all according to my models.

2010 should bring a re-test of the lows and likely a slightly lower low. The economy in 2010 should be in recession again as well due to Alt-A and Option ARM re-sets.



To: Stoctrash who wrote (10981)12/22/2008 12:05:55 PM
From: Augustus Gloop  Read Replies (1) | Respond to of 33421
 
There is our double top breakout



ProShares Ultra Short QQQ (QID) NYSE
22-Dec-2008, 12:04 ET, daily, O:66.13 H:69.33 L:65.98 C:68.99 V:5,475,950 Chg:2.80
Traditional, 3 box reversal chart 
Prelim. Bullish Price Obj. (Revised): 80.00
P&F Pattern: Double Top Breakout© StockCharts.com
 110.00 |                                                                                | 110.00 
 108.00 |                                                                                | 108.00 
 106.00 |                                                                                | 106.00 
 104.00 |                                                   +                            | 104.00 
 102.00 |                                                   X +                          | 102.00 
 100.00 |                                                   X O +                        | 100.00 
  99.00 |                                                   X O   +                      | 99.00 
  98.00 |                                                   X O     +                    | 98.00 
  97.00 |                                                   X O       +                  | 97.00 
  96.00 |                                                   X O         +                | 96.00 
  95.00 |                                                   X O           +              | 95.00 
  94.00 |                                                   X O             +            | 94.00 
  93.00 |                               X                   X O               +          | 93.00 
  92.00 |                   X           X O                 X O                 +        | 92.00 
  91.00 |                   X O         X O                 X O                          | 91.00 
  90.00 |                   X O         X O                 X O                          | 90.00 
  89.00 |                   X O         X O             X   X O                          | 89.00 
  88.00 |                   X O         X O             X O X O                          | 88.00 
  87.00 |                   X O         X O             X O X O                          | 87.00 
  86.00 |                   X O X       X O             X O X O                          | 86.00 
  85.00 |                   X O X O     X O             X O X O     X                    | 85.00 
  84.00 |                   X O X O     X O             X O X O     X O                  | 84.00 
  83.00 |                   X O X O     X O             X O X O X   X O                  | 83.00 
  82.00 |                   X O X O     X O             X O X O X O X O                  | 82.00 
  81.00 |                   X O X O     X O             X O X O X O X O                  | 81.00 
  80.00 |                   X O X O     X O             X O X O X O X O                  | 80.00 PO
  79.00 |                   X O X O     X O             X O X O X O X O                  | 79.00 
  78.00 |                   X O X O     X O             X O X O X O X O                  | 78.00 
  77.00 |                   X O X O     X O             X O X O   O X O                  | 77.00 
  76.00 |                   X O X O     X O             X O X     O X O                  | 76.00 
  75.00 |                   X O X O     X O             X O X     O X O                  | 75.00 
  74.00 |                   X O X O     X O             X O X     O C O X                | 74.00 
  73.00 |                   X O X O X   X O         X   X O X     O   O X O              | 73.00 
  72.00 |                   X O X O X O X O         X O X O           O X O              | 72.00 
  71.00 |                   X O X O X O X O         X O X             O X O              | 71.00 
  70.00 |                   X O X O X O X O         X O X             O X O              | 70.00 
  69.00 |                   X O X O X O X O         X O X             O X O     X        | 69.00 
  68.00 |                   X O X O X O X O         X O X             O X O X   X        | 68.00<
  67.00 |                   X O X O X O   O X       X O             + O X O X O X        | 67.00 
  66.00 |                   X O X O X     O X O     X             +   O X O X O X        | 66.00 
  65.00 |                   X O X O       O X O X   X           +     O X O X O X        | 65.00 
  64.00 |                   X O X         O   O X O X         +       O   O   O          | 64.00 
  63.00 |                   X O X             O B O X       +                            | 63.00 
  62.00 |               X   X O X             O   O X     +                              | 62.00 
  61.00 |               X O X O X                 O X   +                                | 61.00 
  60.00 |               X O X O X                 O   +                                  | 60.00 
  59.00 |               X O X O                     +                                    | 59.00 
  58.00 |               X O X                     +                                      | 58.00 
  57.00 |               X O X                   +                                        | 57.00 
  56.00 |       X       X O X                 +                                          | 56.00 
  55.00 |       X O     X O A               +                                            | 55.00 
  54.00 |       X O     X O               +                                              | 54.00 
  53.00 |       X O X   X               +                                                | 53.00 
  52.00 |       X O X O X             +                                                  | 52.00 
  51.00 |       X O X O X           +                                                    | 51.00 
  50.00 |   X   X O X O           +                                                      | 50.00 
  49.00 |   X O X O X           +                                                        | 49.00 
  48.00 |   X O X O X         +                                                          | 48.00 
  47.00 |   X O   O X       +                                                            | 47.00 
  46.00 | + X     O       +                                                              | 46.00 
  45.00 | O X           +                                                                | 45.00 
  44.00 | O X         +                                                                  | 44.00 
  43.00 | O 9       +                                                                    | 43.00 
  42.00 | O X     +                                                                      | 42.00 
  41.00 | O X   +                                                                        | 41.00 
  40.00 | O X +                                                                          | 40.00 
  39.00 | O +                                                                            | 39.00 
  38.00 | +                                                                              | 38.00 
  37.00 |                                                                                | 37.00 
  36.00 |                                                                                | 36.00 
  35.00 |                                                                                | 35.00 
                                                                                                  
--------------------------------------------------------------------------------
+ = bearish resistance line
+ = bullish support line


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