Tuesday, November 18, 2008
stock price prediction QQQQ, NDX, NQ, QID trading (November 18, 2008)
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stock price prediction QQQQ, NDX, NQ, QID trading (November 18, 2008)
1:17PM: with NDX at 1131, we are scaling in on long side of NDX (Nasdaq 100) using a QUARTER of normal size position.
1:37PM: with NDX at 1128, entry of QUARTER size is complete.
1:49PM: with NDX at 1121, we are scaling in on long side of NDX for another QUARTER of normal size position.
Profit taking:
2:17PM: with NDX at 1131, we took 10 NDX points profits for position established at 1:49PM. We plan to re-enter in low is restested and fails.
3:12PM: NDX is now at 1135 after hitting the low of 1115. We re-entered the quarter size at 1118 after the breach of the low of 1:49PM which was 1121. Profits to this quarter re-entry is 17NDX points.
We plan to re-enter if restest of lows and fail.
3:19PM: NDX is at 1127. Bottom process is in progress. You may not that we did not take the Quarter we built in 1130 area even if it should 5 to 7 NDX points on three occasions. The reason is that one cannot rule out a large moment ferocious short covering, although if it were to happen we epexted it to be less ferocious than the short covering of last Thursday.
If this last moment short covering happens, I would stay till the end with the long position with a possible hit of the 1175 area.
3:23PM: NDX is now at 1141. The quarter size we established at beginning of the post is now posting 11NDX points profit. We will not take them, in case of a last minute blast off or a morning gap up tomorrow.
3:42PM: NDX is now at 1147. There would be a first resistance in 1147 to 1150 area.
Profits in position left are now 17 NDX points.
3:56PM: NDX is now at 1152. We are offloading the remainder of position. Profits for this part are 20 NDX points.
Total profits: (10 +17+22)=49 NDX points (25NDX points per quarter size). No bad at all for a couple hours of work. All trades have been profitable.
To your profits!
1:17PM: with NDX at 1131, we are scaling in on long side of NDX (Nasdaq 100) using a QUARTER of normal size position.
1:37PM: with NDX at 1128, entry of QUARTER size is complete.
1:49PM: with NDX at 1121, we are scaling in on long side of NDX for another QUARTER of normal size position.
Profit taking:
2:17PM: with NDX at 1131, we took 10 NDX points profits for position established at 1:49PM. We plan to re-enter in low is restested and fails.
3:12PM: NDX is now at 1135 after hitting the low of 1115. We re-entered the quarter size at 1118 after the breach of the low of 1:49PM which was 1121. Profits to this quarter re-entry is 17NDX points.
We plan to re-enter if restest of lows and fail.
3:19PM: NDX is at 1127. Bottom process is in progress. You may not that we did not take the Quarter we built in 1130 area even if it should 5 to 7 NDX points on three occasions. The reason is that one cannot rule out a large moment ferocious short covering, although if it were to happen we epexted it to be less ferocious than the short covering of last Thursday.
If this last moment short covering happens, I would stay till the end with the long position with a possible hit of the 1175 area.
3:23PM: NDX is now at 1141. The quarter size we established at beginning of the post is now posting 11NDX points profit. We will not take them, in case of a last minute blast off or a morning gap up tomorrow.
3:42PM: NDX is now at 1147. There would be a first resistance in 1147 to 1150 area.
Profits in position left are now 17 NDX points.
3:56PM: NDX is now at 1152. We are offloading the remainder of position. Profits for this part are 20 NDX points.
Total profits: (10 +17+22)=49 NDX points (25NDX points per quarter size). No bad at all for a couple hours of work. All trades have been profitable.
To your profits!
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