Indicators Galore!
Wow! What do
you get when you combine TM’s overbought market-timing indicators, an imploding
VIX, daily 15-MA resistance, a weakening 60-minute stochastic, a clear 13-minute
15-MA lid and stop trigger, a three-minute MA cross in the direction of the
13-minute trend…all followed by a consumer “lack of confidence”
anvil, for which even the replacement NFL official would have thrown a flag for
piling on? Perhaps the TM trade of the week, if not the month. It’s been such a
long time since I’ve seen so many indicators line up that I kept blinking to
make sure I wasn’t seeing things. Where do we even start?
TuesdayÂ
August 28, 2001Â 11:15 AM EDT
(1)
Approx. Equivalent QQQ Price
enough…
As far as where we
go from here for the rest of the day, let’s just say that everything else will
be lower percentage, relatively speaking.
Thanks again for the e-mail feedback which I plan to incorporate into the
column, TM2001 and the QQQ seminar. With notes like this, it makes all the work
worthwhile at this end:
“Don, I read your
column every day and especially appreciate your sharing not only your successes,
but your failures. It makes the rest of us feel a lot better knowing that the
pros have bad days too. Keep up the good work.” N.G.
Good trading!
P.S. I’m pleased to announce that I’ll
be hosting a two-day
QQQ trading learning forum immediately following TM2001 at the Venetian
Hotel and Resort on October 7- 8, 2001. It seems like we’ve struck a pleasant
nerve with the Q column, and I look forward to sharing my thoughts and views in
a live forum highly conducive to learning and interaction, as well as simply
meeting many of you in person. So whether you trade the Qs or watermelon
seeds, consider extending your stay just a bit and we’ll combine some very
intensive trading discussions and some fun!
For
a more in-depth look at how Don trades the QQQs, click here.