ShepWave
ShepWave.. More Profits from QQQQ, Indexes, Options Trading.
by ShepWave.com
Posted: 3/4/2007 12:00 EST
ShepWave SOLD our APRIL QQQQ Options position Monday Morning. Profit of about 45%.
We are still open our short to mid term position in the QQQQ. See Shep's Trading Log for notes and stop/loss adjusted to LOCK IN PROFITS.
We locked in a lot of profits last week. Let's do it again this week. Will we be able to FLIP and BUY or is the selling pressure too strong and indicating that a quick move down is still in progress?
One Quick Trading NOTE: I will be looking to exit our QQQQ Options for April probably this coming up week. Current profit is 30%. I will notify subscribers asap.
I have published the first part of Monday's Regular scheduled update to show some mid term targets. I will go over some possible techniques to FLIP to the LONG side for a possible quick rally. The longer term charts are still bearish. The 'precipitous' drop which I have been discussing over the past several months has possibly finally begun. I show in this update what we are looking for to either confirm or negate the changing of the mid to longer term trend for the indexes.
Is the rally over? Will we be able to FLIP and GO LONG this week?
Part 2 of Monday's Regular Scheduled update has been published. In part 2 you will see EXACT trading guidelines to get out of current short positions and FLIP in to long side positions. Is the longer term trend changing? LONG side positions should be approached with extreme caution and DISCIPLINE at this time!! That means OBJECTIVITY!!
In the third and final update for Monday Morning I get in to some theory concerning the possible confirmation that the indexes by using the action of Gold and Crude Oil (Commodities in general) and the U.S. Dollar.
The Nasdaq 100 futures are down over 10 points at this writing (10:50 P.M. EST). Read the ShepWave Update for Monday #2 for our trading strategy for Monday. I will continue to update probably on a daily basis. The volatility of the indexes lately have made for some easy profits.
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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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