Play It Close To The Vest
Slow and slower have
been the early themes of the morning as the Qs have followed through
on Friday’s reversal amidst slow volume and pace, which has actually picked up a
bit as we approach mid-day. What had been 60-minute support prior to Friday’s
close has now become potential resistance until broken. Given today’s pace, I’ve
been favoring locking in profits quickly on half positions and only trading
half-lots for longer trends as reversals can occur quickly.
(1)
Approx. Equivalent QQQ Price
All in all,
I’m keeping it tight to the vest today.
Good trading.