Monday, June 9, 2008
Trading the stock market, update on trading the NDX (QQQQ) June 9 2008
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The short position call made on the close of Thursday June 6 2008 did very well on Friday, and added more today. Earlier today when I posed at the forum, It made 105 NDX points. That is huge for an index to make such a move in less than 12 hours of trading.
Here is a copy of what I wrote on the forum.
2:11PM. NDX is at 1950. Which is 105 NDX points from the top called by RFT just less than 12 trading hours ago. That is more than 5% return in less than 12 hours on a major index, which is the most bullish of all index according to bulls. RFT's call is UP 105 NDX points in less than 12 hours.
NDX is an index that is tracked by many instruments including many ETFs (QQQQ, QID, among others ) the nasdaq 100 futures contract, as well as call and put options on the ETFs and the nasdaq 100 futures contract.
It has been a profitable call if you are a stock trader, option trader, futures trader, a combination of these instruments, as well as if you are volatility traders as volatility rises when the market goes down.
I would continue to function under the assumption NDX is under the control of sells until the market tells us otherwise. I will make a post when I see the market telling us to stop playing on the short side. As always if I play the short side, I would wait for bounces before entering.
Happy trading
Here is a copy of what I wrote on the forum.
2:11PM. NDX is at 1950. Which is 105 NDX points from the top called by RFT just less than 12 trading hours ago. That is more than 5% return in less than 12 hours on a major index, which is the most bullish of all index according to bulls. RFT's call is UP 105 NDX points in less than 12 hours.
NDX is an index that is tracked by many instruments including many ETFs (QQQQ, QID, among others ) the nasdaq 100 futures contract, as well as call and put options on the ETFs and the nasdaq 100 futures contract.
It has been a profitable call if you are a stock trader, option trader, futures trader, a combination of these instruments, as well as if you are volatility traders as volatility rises when the market goes down.
I would continue to function under the assumption NDX is under the control of sells until the market tells us otherwise. I will make a post when I see the market telling us to stop playing on the short side. As always if I play the short side, I would wait for bounces before entering.
Happy trading
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