I see the QQQQs are trading at new highs today.
Comment on NDX
By the way, for those keeping score, I was not long the QQQQs or the NQ futures. I normally don't trade that particular area. It was simply an observation at the time.
For now, relative strength in the NDX has managed to drag the SPX higher.
IT
About Those QQQQs
Started by
IndexTrader
, Jan 11 2007 10:59 AM
1 reply to this topic
#2
Cirrus
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Posted 11 January 2007 - 11:26 AM
I'm also long the MVV which is the midcap x2. I like semis until the weekly chart posts a convincing breakout and my plans are to unload...INTC, ADI, ASML, WFR (longer term position) and MXIM. The NDX 100 sure does look ripe for a run.
FWIW I think we have clear sailing into Jan OPEX. Still watching internals but there's not much troubling me. The strength has suprised and there's no reason to be bearish. I also think the time to reenter resources en masse will be during the next broad market selloff but who knows when that will be.
We saw 3 of 4 of Hussman's "Going for the Gold" signal buy almost 30 days ago and then the recent ISM manufacturing unwound the signal recently. I'm still looking to buy gold stocks but I'm not looking to pull the trigger. I'm still holding CMM.v with a loss and KBX. Also, the uranium and a few CanRoys are my only other commodity sector plays right now. I think the CanRoys bottom first and my entry point so far has been very good as most of my CanRoys are slightly green.
