With 3 days like this and tomorrow being a friday with a lot of people wanting to take profits before the weekend, doesn't a short of the QQQQ or SPDR tomorrow seem like a no brainer? I feel that anything that seems too much of a sure thing will not work out, but could there be 4 straight up days in this market climate where profits have been hard to come by? Or do people feel that tomorrow will be a sideways day? Just want to see others opinions. Thnks
sledged, i'm with you in a general sense... expiration, weekend, and especially post-expiration monday, all combined with the short term overbought levels (especially in NDX) seem to be setting up for a good swing downwards. i'm sitting on my hands till the opportunity clearly presents itself...
dow, s&p and comp all broke resistance levels. personally, im waiting for a pullback to buy some if it happens. if not - ill go run under the sprinkler.... oils tanking. some temp good news from the philly fed....dunno ... could catch a pullback - but i agree with thekrazykarl - trend looks up to me....3 month highs...albeit on light volume..... my 2 cents
dont short QQQQ or SPY or DIA BUY QID for better returns when the NDX falls. I dont think the nasdaq rallies again tomorrow. DELL loos weak along with MRVL, INTC and BRCM. IF you think the dow is going to drop buy DXD and the s&p buy SDS.
thanks for the reminder... forgot about the new profunds doubles. definitely something that i'll be looking to find an actionable setup witin the next week... esp with QID
If tomorrow we slowly impulse up like we have been doing the past few days I am shorting a kaboodle of es futures at 1315-1318. I doubt we get up there, but its the sweet spot for max exhaustion. I am expecting a range reduction day with low volume choppy trading. Good day to take off and get some sun.
Look correct so far, thanks on the QID's I had heard that there is an ETF that is short the NSDQ but couldnt remember what its called. Interesting to hear everyones opinions on the situation.
No prob, im long QID at the moment, down a little bit but not worried. This rally will soon run out of air. QID is a great stock to own when everything is dropping. On great day this ETF could return 3-4 dollars.