On days like today (Where QQQ moved a ton and SPY did nothing)

Discussion in 'Trading' started by 1a2b3cppp, Jul 22, 2011.

  1. What do you think? Any super secret arb or correlation trading tricks?

    QQQ went like this today: /

    SPY went like this today: \/

    Usually QQQ and SPY are pretty even but today was definitely not the case.

    What do you think?
  2. mikeenday

    mikeenday Guest

    well, today is the dumping day, and only reason QQQ is strong is that it's used to cover the trace.

    Monday we are going to gap down 300 points.

  3. What does that mean?

    I hope so!
  4. isn't QQQ supposed to be the leader? not only it went up today, it made new multi-year high
  5. mikeenday

    mikeenday Guest

    Monday if QQQ gap down open below today's low, that'll be perfect short time.

    SPY is the 3rd leg lower high if you pull 9-month bar chart. This usually is the start of a epic fall.

    I'm holding some Aug 125 puts on SPY and some QQQ aug 58 calls to hedge.

  6. Which is (are) the market laggard(s)?
  7. qqq is tech heavy and tech was good.

    no mystery
  8. What do you mean "QQQ leads"? Does anyone have some actual data to support this?
  9. no, just anecdotal. When I scalped ES, if ES was up but NQ was not up more (percentage wise) I would be skeptical.

    If NQ outperformed ES for the day that would confirm the trend.

    Not a money maker, just gave me an idea on which side to trade.
  10. depends on time-frame i guess. i don't really look at leaders/laggards. qqq/spy caught my eye because of the new high for qqq.
    #10     Jul 23, 2011