Shorted 1000 QQQ at 25

Short ratio is extremely high. You all know what theat means. Any good news will create a short squeeze. Time to bottom fishing. It's never been a better time.

 

People take profits right after a rally. There hasnt been any follow through for a while.

 

I am buying at the current price level. Bottom or no bottom, stocks are cheap.

 

But when are you getting out?

 

QQQ is easy to scalp. But right now, it's not necessary. Trend is clear.

 

Will get out when Nasdaq hits 1400. Strong resistance at this level.

 

What happens if it keeps dropping?

 

lundy?

Cujo?

 

Currently, people are taking money out of mutual funds so funds need to sell their shares fro the customers redemption. Foreign money has been leaving the US markets for a while also. About 1/4 of foreign money contributed to the bull market of the 1990s. Not a pretty picture right now. Most of my trading money is currently in T-bills. I kept 30K for daytrading because of the new regulations but never trade more than 1000 shares in a single day.

 

There will be a major crash before the market turns around. That's when I will cover. History repeats itself. Look back at the previous bear markets. My only regret was to cover half of my position too early. There was no sign of danger at that moment. Worst enemy is emotion!!!!!!