Sorry for the slight delay today as the technical gremlins got into my chart software. Then again, it seems as if time has stood still for the last hour, so little is lost. The Qs have been in a slow grind down for much of the day with little buying interest to stop the slow drip. And we’re talking slow as volume is light as was to be expected during this Holiday for many. Simply put, it’s certainly not a day to press hard as we wait for better opportunities. Thirteen-minute trend continuation triggers via 3-minute MA cross triggers have worked well amidst the chop as the bears continue to call the shots for the moment.
Thursday September 27, 2001Â 1:20 PM EDT
(1) Approx. Equivalent QQQ Price
Short covering pops are certainly possible as we progress into the afternoon, and a change in the 13-minute trend may provide a clue.
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 Oct. 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!
