Climbing Higher?
Not a bad pace
for this shortened pre-Holiday trading session as the Qs rallied off early
"panic-them-investors-with-downgrade" lows to the 13-minute 15-period
MA resistance. I’ll be looking to this critical area as we trade
throughout the rest of today and into Thursday to gauge whether we climb higher
or continue the 13-minute downtrend which was in place since mid-day yesterday.
Liquidity is slowing quickly as folks head for the beaches.
Tuesday July
3, 2001 10:55 AM EDT 
Upcoming Columns
I continue to receive a great deal of
mail in response to the early Q columns, and while I respond to each e-mail
personally, I’ll be using upcoming columns and occasional lessons to address
several common questions including study settings, thoughts on intraday trade
management, trend vs. oscillation trading, shorting, exits, stops, and many
others. I’ll also be sharing my own personal challenges, demons and
mistakes as we all have them no matter how long we’ve been at this. One of
the great aspects about this business is that one can make a lot of small
mistakes, including the occasional bonehead move, yet still carve out an income
through perseverance.
Until then, have a very safe holiday and we’ll be back at it on Thursday.
I’ll be laying low trying to avoid the parking lot called the Cape Cod highway.
(Quick note to everyone in a 1,000 mile radius: there’s really nothing here…the beaches are full of sand and shells, and the locals will drive you crazy.)
Enjoy the holiday.
For
a more in-depth look at how Don trades the QQQs, click here.