3 replies to this topic

[dcengr]

There are those that piled on at Qs 42.90 and above. Their stops are below 42.90, maybe 42.65. There are those that piled on at 42.65, and their stops are at 42.50. At this point, I still think we'll close on the positive for the day, because big boys won't take the risk of selling until they get a good setup, which I think occurs after RSI2 sell becomes active. Its not active until today's an up day. If it closes in the red today, it would surprise me, but those key pivots, if taken out, I think would cascade to close the lower gap. As I said before, bearishness has piled up sky high. Don't think bears are gonna give up this soon tho. Probably needs even more bearishness before the real bounce. Me thinks we're still in the A wave, on a zig zag down.

[dcengr]

Well they took it right to the first set of stops, to the penny. Qs went to 42.65 and bounced. I am still IT bearish, but for the day trade, I can see it bouncing to a flat or so. The big money won't start dumping until RSI2 gives me a sell, IMO. It ain't there yet.

[hiker]

42.25 to 42.50 QQQQ horizontal near term....42,18 horizontal based on long term chart... I am sure this is something you know....just an fyi trendlines that others post here may be relevant, but you can see from recent selloffs that the 42,18 horizontal is mucho relevant

Edited by hiker, 09 March 2007 - 02:20 PM.

[A-ha]

to me, this looks like a reversal(outside day)... i expect the lows to be taken as early as monday... however this is a high volatility region, any reversal can very well reverse the next day

Edited by xD&Cox, 09 March 2007 - 02:25 PM.