Shorted 1000 QQQ at 25

Thinking about adding more to my short position.

 

Who thinks the QQQ's will break $20.00 this week or next week?

 

IMHO it's going to be a struggle.
We're probably more poised to go sideways.
Add into the mix the fact that we held (by a little bit) 20.72, and the number of Oct and Nov 20 and 21 puts out there.
Having thought that out I guess I should pop out my puts. :eek:

 

Depending on the direction of the market Monday, I may increase my short position.

 

jturner,

You're doing good with QQQ. I sold short AMG, AXP, and TLB and made about $800. Not too bad for a single day.

 

Getting very close to $20.00. Intraday low of $20.11.

 

Thre may be a small rebound on Monday.

 

I already closed all of them. So I am not worried.

 

I tend to do better with swing than daytrades. I do some daytrades but with small positions.

 

If you trade index such as QQQ and DIA, swing trades are more appropriate because they move slower. With volatile stocks, daytrades are the best and safest way to make money.