QQQQ Trade
By Johns Wu on Jan 06, 2006
Today the Nasdaq broke out to new yearly highs. Throughout the day, I picked up various calls on the QQQQ with strikes of 42. I'm hoping that we will see a mini bull run in the short term.
A couple weeks ago I predicted that the markets would be bearish in Janurary. I guess I was wrong. I hope I'm not wrong this time, though, because I've got money involved this time. The only concern right now is that the crude oil chart is all over the place, making it difficult to tell where the prices are headed. Another thing to consider is that the $NASI has finally turned over a little, which hints at a possible bull run.
This entry was posted on Friday, January 6th, 2006 at 2:53 pm and is filed under Annotated Analysis.
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Hi — very cool blog. since i found it, i’ve been checking it regularly.
compare the breakouts of Gold and the Nas. you’ll see a similar looking “humps” before the breakouts. probably doesn’t mean anything, but it’s interesting.
http://stockcharts.com/def/servlet/SC.web?c=GOLD,uuw,adaclyyaydcpb50!h.02,.20!f][vc60][iUb14!Le12,26,9]&pref=G
http://stockcharts.com/def/servlet/SC.web?c=COMPQ,uuw,adaclyyaydcpb50!h.02,.20!f][vc60][iUb14!Le12,26,9]&pref=G
also — regarding the “surpise” breakout — you should watch for PRs issued by TrimTabs. these guys measure the flow of money into the markets. they were saying at the end of 05 that cash was rolling into funds. now those funds are putting the money to work.
cheers.