if you wanted to short the QQQQs,
- Thread starter diligent
- Start date
QID is 2x the inverse of the QQQQs though. More leverage.
Ooh, severe Burn here folks!!
I think QQQQ has formed a bearish diamond top. The OBV has triggered a sell but I am waiting for a close below the trend line. The Stochs are oversold, so there maybe a bounce.
If the short does not pan, then I will just let the stop losses work itself. That is part of trading. I think this will be a nice short.
The double top had fooled me once and taken my money. However, as the market gives signals, I will have to take them.
See the attached chart because a picture is worth a thousand words.
If the short does not pan, then I will just let the stop losses work itself. That is part of trading. I think this will be a nice short.
The double top had fooled me once and taken my money. However, as the market gives signals, I will have to take them.
See the attached chart because a picture is worth a thousand words.
If you're looking for additional bearish confirmation, the Nas Comp broke its treadline on Monday (1/22). The NDX/QQQQ may be lagging the Comp, or the Comp may be susceptible to more headfakes (as seen on Thurs when the trendline was temporarily retaken).