Daytrading the PowerShares QQQ Trust (QQQQ) ; using a 15 mn chart1) Stop loss also reflects what can be seen on a daily chart (tight channel pattern)
2) Resistance level reflects an important buy trigger if price closes above it
Friday, November 13, 2009
PowerShares QQQ Trust (QQQQ), daytrading
Daytrading the PowerShares QQQ Trust (QQQQ) ; using a 15 mn chart1) Stop loss also reflects what can be seen on a daily chart (tight channel pattern)
2) Resistance level reflects an important buy trigger if price closes above it
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3 comments:
Maybe this is what’s holding the market up:
http://www.google.com/finance?q=NYSE:YGE
Interesting if you held YGE from the IPO you’d be ahead.
I bought 10k shares of YGE IPO, but didn’t take my own advice and hold it till 2010.
Better to Short QQQQ near that Resistance level (if you get a chance to again) and then use the area just above it (44.20+) as a Stop-Loss.
I have some Charts on my Blog.
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