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Thursday, April 22, 2010

qqqq trading system - qqqq trading strategies- April 22, 2010

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qqqq trading system - qqqq trading strategies- April 22, 2010

With QQQQ at 49.90 area, the proprietary stock market price prediction models are telling us to fade this afternoon up move in the QQQQ EFT.


The QQQQs made a nasty move today. First it gapped down (which we expected as per yesterday's post). The bounce/rally that took place afterwords is not a surprise, and was hoped for to try to enter on the short side. The unusual part is that the bounce turned to a rally, which must have been vicious to the day traders who in general enter the market 20 to 30 minutes after the open and typically follow the prevailing trend.

We noticed the following:

1. Todays trading broke two lows of the previous trading days, and broke the high of yesterday. This an unusual outside day, with TWO bars overshadowing two previous bars after a gap down. We do not know what percentage of times this has happened in the past, but we would not be surprised if it is very rare particularly in a bull leg believed to be extended after a morning gap down.

2. In after hours, QQQQs are trading at 50.19. They retreated from the high of 50.36. This suggests that this rally may have been fueled by short sellers covering their positions to meet overnight margins or simply to stop the pain, and who may have been encouraged earlier today by the gap down open.

3. The high of 50.36 is worth comparing to the numbers in latest report (the April 15 repor). A quote from that post follows:

"qqqq powershare holdings price analysis (NASDAQ:QQQQ) Today April 15, 2010:

The latest readings from the models tell us to expect price to stop moving up (and possibly retreat) somewhere between current price and 50.54 for the QQQQ EFT. The current QQQQ price is 50.17. This constitutes a less than 1% price band on the QQQQs. The middle of this band is around 50.34. The latter is a price at which the models say to expect appearance of first strong sellers if price were to get there. If models are to be right, the upside potential is getting very narrow at the current price and at this point in time."

4. In after hours, QQQQ are now trading at 50.07. Down 30cents. This further supports the hypothesis of a short squeeze of today's short sellers of the QQQQs, NQ, ND, and other trading instruments of Nasdaq 100.

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Happy trading,


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