QQQQ found support at 42 and opex players held us up (see Monday's post for setups). Reading open interest is absolutely key to trading option expiration week. I profiled an NQ long at 1725, stop 1720, in the monitor after the close today. We should see a bounce tomorrow (Thursday). Oil is falling, COMP held 20 dma support and NQ 38.2% January. Should we get there, the oil trade will be closed on a drop to 65.10. I will start trading March contract tomorrow, this will be the last trade for February oil.
This entry was posted
on Wednesday, January 18, 2006 at 3:12 PM.
