Markets on support-bounce or die
The GMI and GMI-R are back to 2. If the markets close down on Wednesday, I will go short and/or to cash.
Comments ( 5 )
robert cook added these pithy words on Tue, 6-23-09 at 11:39 pmthanks for your GREAT information!!! Post as often as you can!!!!
Jason added these pithy words on Thu, 6-25-09 at 12:25 amprof,
so now that the market (nasdaq) rallied on this bounce or die day, perhaps unconvincingly without volume support, will you continue your longs or close the positions?
jason
Dr. Wish added these pithy words on Thu, 6-25-09 at 10:36 amI am retaining my longs as we go into the end of quarter mutual fund “window dressing” period. But I am ready to sell out if the QQQQ starts to decline again.
Shawn M added these pithy words on Thu, 6-25-09 at 11:28 amIt’s always hard to know how to set stops. QQQQ went to its lowest level since May 29th recently; how did you manage to not get stopped out of your QQQQ? Did you get stopped out of some of it, but not all of it?
Dr. Wish added these pithy words on Thu, 6-25-09 at 12:26 pmRather than buying QLD to ride the QQQQ, I bought some July 37 call options on QLD. I did not have a stop, but with a call option, the most I can lose is the price of the call. If the QQQQ CLOSES below its 30 day average I would likely sell my calls and consider buying call options on QID.
Add a Comment
