Chop Suey Or Chopped Liver?
Chop suey or chopped liver …
take your pick on the lunch menu to
describe the current range-bound nature of the market as we wait for a move out
of the NQ 1580 – 1600 twilight zone. Current trading options include (a) waiting
for a break to trade an emerging trend; (b) scalping the range while being keenly
aware of the eventual range break — whenever it occurs; or (c) getting in some
early holiday shopping. Chart signals appear mixed at the moment as the daily
continues to show overbought, the 60-minute shows oversold on a relative basis,
and the lesser time periods battle for supremacy. Given the mixed signals and
pace on this options expiration Friday, capital preservation may be the name of
the game until the clouds lift.
Friday November
16, 2001Â 12:00 PM EDT
(1)
Approx. Equivalent QQQ Price
Continued thanks for
the positive feedback on the QQQ
video, as it appears many have started their holiday shopping (for
themselves) early this year. I was honored to see it climb quickly on the TM
Best-Seller List in its first week of release and hope all found the insights
helpful and useful. Comments like the following make the work worthwhile at this
end.
By the way, excellent
video course. I appreciate your “simple” approach as you’ve found a
way to eliminate the noise and focus on the essential. Very difficult to do in
these troubled times. I’m showing more profit from it, too!
D.J.
Good trading and have a
great and safe weekend!