QQQQ
Started by
selecto
, Dec 31 2006 10:45 AM
4 replies to this topic
#1
Posted 31 December 2006 - 10:45 AM
I will end the year bloodied but unbowed on this call, as I still have the daily cubes bb squeeze resolution for down, with maybe some help from the 60.
Or not.
#2
Posted 31 December 2006 - 01:07 PM
Anything can happen...what's happening now?
No one can forecast the future. No one.
All stocks (ETF's) are BAD...unless they go up - William O'Neil
When The Time Comes To Buy or Sell, You Won't Want To - Walter Deemer
#3
Posted 31 December 2006 - 01:20 PM
Yup. I have been sleeping with his book under my pillow. The resolution is almost always in the direction of the 5 sma of cmf, (with other stuff) I do look at most of the volume crunches, but only draw up for posting an abbreviated "cool" looking chart.
By the way, on the QQQQ weekly I also have price momentum inexorably for down
Edited by selecto, 31 December 2006 - 01:21 PM.
#4
Posted 31 December 2006 - 01:57 PM
Another view of the cubes looking at divergence on the 30min chart.
Not as much neg D currently compared to the previous build up between Dec 14th-18th that produced the big swing low...
Looking for a little more downside, and than a bounce around the $42.90 range...
http://stockcharts.c...478&r=8829&.png
Not as much neg D currently compared to the previous build up between Dec 14th-18th that produced the big swing low...
Looking for a little more downside, and than a bounce around the $42.90 range...
http://stockcharts.c...478&r=8829&.png
Before you start trading get your brain around risk control. Know how much leverage you're using and know when to go to cash if you're wrong.
#5
Posted 31 December 2006 - 02:04 PM
by the way, on the QQQQ weekly I also have price momentum inexorably for down
Yep, my weekly gave a sell signal 12/15 but price has not retreated much since then. My guess is the mkt has a positive bias coming into next week and then we see. So, lately I have been doing only swing trading long and short as that is what I can make money at rather than trying to divine what to do on an intermediate timeframe. ( accounts are in an IRA so taxes are not a factor)
As you probably know, it is really hard to take a position and ride it intermediate term contrary to what Livermore wrote
Anything can happen...what's happening now?
No one can forecast the future. No one.
All stocks (ETF's) are BAD...unless they go up - William O'Neil
When The Time Comes To Buy or Sell, You Won't Want To - Walter Deemer