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You Are Here: Home > Articles > Contributors > Short-Term SPY and QQQQ

Short-Term SPY and QQQQ
Nov 06, 2008

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Tim Knight

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This'll be quick. The SPY is presently (after hours) trading at the oval drawn below. There are a couple of "thickets" of support, drawn as large rectangles here. I think that, short term, the SPY could trade as low as the thick green line I've drawn. I intend to hold on to my SDS until about then.

As for QQQQ, my view is more optimistic (that is, pessimistic); there's really only one "thicket" of support, and it should get down into that level without much trouble. At the moment, we are trading at the oval shown.

As for what follows the above...........ya got me! But every one of my individual stocks are carefully selected and have precisely-placed stops. Good night!


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