Stock trading: QQQQ, NQ, NDX trading (stock blogging August 14, 2008)

Stock trading: QQQQ, NQ, NDX trading (stock blogging August 14, 2008)

After nailing the top of yesterday, and the top of monday, let us look at today Thursday August 14, 2008. Here is the post of yesterday in which the top was nailed:

"2:54PM: We are about to start going short on a retest of high.

3:01PM: NDX is now at the 1955ish. We are going short."

Now for today:

10:28AM: with NDX at 1951, we are getting ready to start shorting. Current estimate of the top is in the 1952 area.

10:34AM: NDX is now at 1953.ish. We are starting shorting. This prediction has a less than usual likelihood to be successful. We are then using a smaller size in the trading than what is usual.

The size we are using is 1/2 normal size. If there is a break of yesterday's high, then we will assess whether we should add a second half after the break of yesterday's high.

10:54AM: NDX is at 1961. We are getting ready to add the 1/2 of the short position if this restest of high.

10:59AM: price run away on placing of order for second 1/2 size. So we are unfilled. This order has been removed.


2:04PM: with NDX at 1965.ish, we added the second 1/2 of the position size.

Good luck!