Posted Friday, August 27, 2010 @ 7:00 am by Dr. Wish
10th day of QQQQ short term down-trend
While the QQQQ is in a short term and long term down-trend, the daily stochastic is in deeply oversold territory. A bounce may be imminent. This is therefore not the time to initiate new shorts. I am sitting on the sideline, mainly in cash with some short positions.
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