Monday, April 13, 2009

Entry set-up to Short the Nasdaq (qqqq)




Very nice set up here, if this is a double top, if its NOT, the stop is 1% -2% away.




I Love the low risk clean set up's, like these, with the stop so close.

Stop: @ 1670 on the overall Nasdaq Index (very tight stop, that's only a 1.5% risk from here, so why i like the entry so much)

Target: 29.34 for qqqq
(1500 on the Nasdaq)

3 comments:

  1. ERik buy before or after Goog announces...also would puts on the qqqq's be good and if so which one

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  2. i really don't know...i mean everyone trades differant.

    i bought some qqqq may 30 puts today before the close, it's not a super fast mover, but im not looking for a double or anything here, just a nice 25% or so, then get out...

    gaming earnings is bad juju, imo

    playing the charts is not, so im trading it per per the nasdaq chart, im not looking at goog earnings perse, there are alot of other heavy hitters besides goog out there in the index...

    i mean maybe goog beats? but intc, ibm, aapl all miss? ya know, what outweights what?

    goog is definatly gonna move the index, that's a given (up OR down)....

    so i dont know, nor can i really answer that well, im trading the set-up i see on the chart, that's all.

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