ShepWave
ShepWave.. Closed out short term QQQQ Position.. Over $2.00 PROFIT
by ShepWave.com
Posted: 3/1/2007 10:00 EST
Afternoon Blog Update
For this afternoon's ShepWave entry click on Shep's Trading Log and read the Side, Price, and stop of our short term position in the QQQQ. Keep In mind that ShepWave is NOT an intraday service. I try to notify you of all positions taken asap.. but the main thing I try to concentrate on is to explain and show technically what direction the markets will go in the time span for everyone who is a subscriber to profit. We do NOT try to constantly FLIP positions.
So. Read the Notes in the Trade Diary update from this afternoon very closely.
Morning BLOG
Markets acting just as expected this morning. Per this morning's update which was published around 3:00 A.M.EST when the futures for the NDX were UP around 5 points... we are seeing the action unfolding nicely.
ShepWave has closed out 1/2 our short term QQQQ Position for a profit of $2.05. We have adjusted the Stop/Loss for the other 1/2 of position to lock in profits.
Read the updates closely if trying to trade a bounce. Go to Shep's Trading Log for this morning's exact EXIT and our new stop/loss for the remaining 1/2 position in the QQQQ.
Later same morning of March 1, 2007
Our stop was hit this morning in our short to mid term position in the QQQQ. We have Locked In PROFITS of $1.45 for the second 1/2 of the position after taking $2.05 profits for the first 1/2.
If trying to BUY the indexes or the QQQQ Please read notes closely. Keep stops to avoid any unnecessary losses. Read notes located in Shep's Trading Log as well as this morning's update.
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Reference: Shepwave.com is a technical analysis site for the Major U.S. stock indexes. We use Elliott Wave theory along with our proprietary indicators to give analysis for the Dow Industrials, Nadaq 100 and S&P 500 indexes. We specialize in trading the QQQ and DIA.
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