Instant Replay
For those of you waking up once again
with that "Groundhog Day" feeling (one of the classic Bill Murray
movies that I’ll refer to from time to time), yes, today is Friday and not a
replay of yesterday. About the only difference has been one preliminary
three-minute climb out of the abyss which hit resistance at — you guessed it —
the 13-minute 15-MA (big
surprise…NOT). On a longer-term intraday
time frame, I’ll continue beating the drum of respecting the
13-minute 15-MA until it’s broken to the upside, which played out very nicely
yesterday.
Friday
August 17, 2001 11:50 AM EDT
1) Approx.
Equivalent QQQ Price
By the way, if you
wake up tomorrow to the tune of "I’ve Got You, Babe" and you see the
market preparing to open down, short the open heavily, cover and reverse strong
at 10:35 a.m. EDT, and exit the long at 11:40 AM. For those not getting it,
rent that movie over the weekend…it’s a classic.
Good trading and have a
great weekend!
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.