Keep It Light
Very low volume, choppy pace, and an
extremely tight trading range define the early market conditions of this summer
Monday. We’ve been unable to clear 13-minute 15-MA resistance all morning,
which reflects the immediate lid, and I’ll be watching for any stochastic
strengthening on the 13-minute chart for early signs of a reversal to the
upside, respecting the downtrend until then. Yet in light of the early
pace, I’ll be keeping the share sizes light until the market can prove itself a
bit further in one direction or the other.
2001 12:10 PM EDT
And yes, that’s
about a $0.25 range on the Qs during the late morning hours, and so that we
avoid inappropriately trying to draw too many conclusions from a flat market,
we’ll keep the commentary appropriately concise for now as well.
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.