Looking at the chart, QLGC is now in a nasty downtrend and the macd on the dailies is in a full sell. I picked up QLGC sep puts today because I too think QLGC is headed for the 20's. It is one of the few tech stocks that have not yet hit its sept lows. Look for it to happen sooner rather then later.... If QLGC can break the downtrend, i'll be happy to sell my puts and then buy calls.
There is a reason why it is one of the only that hasnt tested lows If the market pop's from here which I think will happen, then qdog will rip up.
I would rather buy stocks with charts like EBAY's. QLGC chart looks really ugly. Maybe it was so strong in a weak market that it finally got tired?
QLGC was fairly weak today and didn't rally like the rest of the markets. It did finally kick in toward the close, but the tide lifts all boats. Looks like a gap up tomorrow to the top of the downtrend line and we'll see what happens after that.
Yeah, we'll see. No need to panic. Look at the MSFT 1 yar chart - it's going to meet some major resistance. Maybe even tomorrow. It was one of the strongest big cap stocks today - one more reason for today's rally since MSFT's 13% presence in NAS. But still - it really looks like reversal in the markets, so shorts gotta be careful.
Agreed....MSFT ran like a bat out of hell today. But it is up against some big resistance.... Elliot Wave followers say we will see a final wave 5 top tomorrow and then a decline to test the lows. One thing's for sure....won't be dull!
Looking at key resistance levels here on the naz and sp cash. Naz key level is 1355, sp cash is 940-950 area, and the sox is 340-350 levels. I will be aggressively adding puts and shorts at those levels. If we break on volume, i'll happily cover and go long.
I think QLGC is looking more and more like a great short here....we are starting to top out and the sp cash is nearing resistance. Interesting how semi equipment stocks didn't really participate in today's move. Semis are going to die soon.