Just Trade ‘Em
The Qs opened in textbook fashion this morning,
as once the opening retail fleecing ritual was complete, we bounced nicely to
key resistance, retraced, and then extended through resistance to an approach to
yesterday’s highs. Price volatility has been strong this morning, with plenty of
triggers for intraday opportunities on both sides of the market. As has been
said, “Trade ’em long or trade ’em short, but just trade ’em.”
Wednesday December 19,
2001Â 12:00 PM EDT
Revisiting yesterday’s
column and the subsequent late-day price action, the market provided yet
another example of the strength of hourly trend support. If you recall, I
mentioned that “the
slope and resilience of the hourly support should provide clues as to any
further continuation,” and the angle
indeed provided traders with a high-probability pullback entry point and
premise-based stop. For those desiring at least a trend turn on the lesser time
frames as I discuss in my
video, both the three- and 13-minute trend turns provided low-risk trend-continuation
triggers.
Tuesday December
18, 2001
Looking at the calendar, I see
there are only six more shopping days to go, which gives me about five days to
plan and one to shop. So I can take full advantage of that last critical day, my
column will not appear on Dec. 24, which is a shortened and typically a low-percentage
trading day anyway. For those still looking for gift ideas, the Q
video continues sell extremely well into its second month of release, and
here are a few excerpts from Daniel
Beighley’s recent review:
“This course should
appeal to all skill levels. If you have no idea what the QQQs are, this course
will be especially useful. Don starts from square one and goes through every
detail of his trading, from a picture of his desk setup to detailed discussions
of elaborate technical setups. Through clear, no-bull explanations, viewers of
this course are given the knowledge needed to make a living trading the QQQs. A
portion of this course consists of live trading to give viewers a glimpse of
what it’s like to make decisions under the gun. Listening to a pro vocalize his
or her mental process is an invaluable experience.”
Good Trading!