Logjam
The Qs are consolidating on multiple
time frames this morning as we’ve had intraday trade that can best be described
again as range-bound and best suited to scalping. Weakness in the chip
sector as a result of fallout from last night’s
(
NVLS |
Quote |
Chart |
News |
PowerRating) earnings has been offset by
strength in networking and has netted to a virtual stand-off. Waiting for
a break out of this logjam and/or preserving capital may be the ticket today,
and I’m frankly simply waiting for the market to make its move before committing
anything significant in terms of lot sizes. Slow midday climbs have
certainly been the norm lately, yet sometimes being on the bench can help avoid
getting cut up while the jayvee squad is knocking heads.
Friday November
30, 2001Â 12:10 PM EDT
I’d like to express
my continued thanks for the kind comments and feedback on the QQQ
video and am glad to see so many have found it useful.
“I just purchased
your video course, and I think it’s the best that I’ve seen out there.”Â
C.P.
Good trading and
have a great weekend!