Closing hour:
YM and ES get more bullish than NQ as energy stocks get a bid. Oil is above 80 once again and it looks like the DOW will break out to the upside. NQ/QQQQ lagging now.
Just as NQ was about to close the gap at 2097.50, some BSC news came over the wires. Apparently the rumour is that they are trying to sell-off 20%. In any case, with higher oil, NQ (QQQQ/NDX) is a better short at this point. It is also much higher relative to its 20 dma. My usual sell signal is triggered automatically when we get 4% above that average, which was the case today.
YM and ES get more bullish than NQ as energy stocks get a bid. Oil is above 80 once again and it looks like the DOW will break out to the upside. NQ/QQQQ lagging now.
Just as NQ was about to close the gap at 2097.50, some BSC news came over the wires. Apparently the rumour is that they are trying to sell-off 20%. In any case, with higher oil, NQ (QQQQ/NDX) is a better short at this point. It is also much higher relative to its 20 dma. My usual sell signal is triggered automatically when we get 4% above that average, which was the case today.
This entry was posted
on Wednesday, September 26, 2007 at 9/26/2007 03:18:00 PM.
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