Friday, October 12, 2007

Limits

N QQQQ 52.74 - 53.07
N SPX 1554.0 - 1559.0
QID 36.53 - 36.07

12:51 ET 53.47 is a 4th resistance and I am tempted to short here
13:09 ET should have done it
13:12 ET, IF 53.29 does not hold trouble, big trouble ahead.
13:21 ET , break 0f 53.18 would be serious development

13 comments:

Sqroot said...

Shorted Qs at 53.29...

boris said...

Good Luck Dear SQROOT,
The 53.29 level was a 3rd level daily resistance, but we passed it and next level could be 53.47, but we see exhaustion forming here on 5 min charts.

Good Luck

Good Trading

waldo said...

Hi Boris and all, it also looks like the 10 and 20 day ma stopped the q's advance on daily chart. waldo

boris said...

Dear Waldo,
Thanks
Good Trading

Sqroot said...

53.20 is being stubborn. We had a clean bear crossover of 21/14 stochastic @ 1:00.

boris said...

Dear SQROOT,
Yes, indeed that is a difficult level, Q's seem to have saved themselves from that level.

GOod Trading

Sqroot said...

Hopefully, we are making a little bear flag here (5 min) and then can attack 53.20 with some force.

waldo said...

Is this a good price to short at Boris? waldo.

mlytle said...

All,
Not sure what it maps to on the Q's but the $NDX is at 2175ish and my expon. trendline is just above at 2182.61..it can be broken, but has been providing additional resistance..hope that helps..

Regards,
Mark L.

Sqroot said...

SMH broke below 200ma at the open this morning and is still below it.

boris said...

Dear Waldo,
SOrry I missed you message.

53.47 did appear as a good place to sell the makrket whole day.

Not big profits, but scalping.

GOod Trading

waldo said...

With the idiot analysis out there that keeps pumping google, apple, rimm, bidu, and a couple others, one can't do anything but scalp. It will all come back and bite them in the ass. waldo.

boris said...

Dear Waldo,
You got that right,
Idiot is the word.

How could people fall for this , I do not know, but...

Good Trading