Swing Trading QQQ

Booyah! Yesterday's highs taken out. I wouldn't push too hard on the long side today, though. But 5350/60 looks like normal action post yesterday to me. Conservative target would be 5345.

I see there's some FED talk on the schedule today, so that could of course change everything.
 
Yeah my QQQ 456 is going to happen. They won't let this drop at all. Even the fake mini dip at the open gets the instant V treatment. Sit back and watch this thing go to the moon. Since May 1st this thing hasn't even had a red day lol

As I said yesterday, this is one of those massive weekly candles that you see on charts. They never reverse so there's zero risk here. Maybe next week this will get a mini dip that will again get instantly bought.
 
The market lost momentum and turned range bound for now. Main statistical biases exploited already, so not much to lean on right now.

Would guess we have the LOD and move back higher by the Close and possibly new highs, but admittedly, just a guess at this point. :)

EDIT: Had the time to look at some statistical data. Odds do say back up + new highs.
 
Last edited:
SunTrader said:
Long only = investor.

The markets are one big hodgepodge of opinions and positions.

I stay away from slicing it down into groups. Rich and powerful, smart money etc., etc. It serves no purpose as far as I am concerned, other than to divert attention and energy from what really matters - what I choose do.
More...
One can be a long only ‘trader’, artificial boundaries (who cares?) or semantics doesn’t really matter anyway, one has to what is most profitable for oneself.

And groups, it’s just best to be in the same boat as the powerful, but agree it’s a bit of hollow phrase
 
Zwaen said:
One can be a long only ‘trader’, artificial boundaries (who cares?) or semantics doesn’t really matter anyway, one has to what is most profitable for oneself.

And groups, it’s just best to be in the same boat as the powerful, but agree it’s a bit of hollow phrase
More...
You're agreeing with ... yourself.
 
Laissez Faire said:
Another thing I like doing is to try and get a feel of sentiment. For me, that's usually comments on forums or even Twitter. It's not quantifiable, but worked tremendously well during the range bound mild bear market over the last few years.

Invariably, the crowd seemed to get very bearish after some down. And very bullish after some up.

When that happens I get increased confidence we'll actually move the other way, so if I get technical signals that oppose the crowd I'm feeling very confident trading those. I've seen a lot of bearish sentiment lately, so that helped me push the long side lately.

Saw the same thing when the markets bottomed last fall. Even if people weren't expecting a crash, there were a lot of comments like, "This market HAS to pullback here. This is crazy."

Convinced me that this might just continue ripping instead. And I also looked up similar price sequences and saw that it wasn't like it hadn't happened before in the past. So, not going to fade it based on the market being 'overbought'.
More...
You could use a twitter or other sm sentiment scraper, though they do exist already a long time I belief. As an addition could be interesting.

I believe you’ve build your own database to do analysis? Just curious, what are the best statistics you have found in that (without telling what it is)?
 
You must log in or register to reply here.
Back
Top