Whether or not it is window dressing, the technical picture has become more bullish. I still don't like semis lagging so much, so I will remain cautious and only daytrade the long side. But there is a buildup in puts at QQQQ 40 strike that is alleviating a lot of the bearish set up going into October. Too many bears are piling on to this rally and traders should respect that big change below us. NQ weekly R2 is 1693, which would correpond to about QQQQ 41.50, and they might very well be gunning for it.
I like accumulating gold, especially now that oil is basing. I will stick to daytrades, long and short, for equities.
I like accumulating gold, especially now that oil is basing. I will stick to daytrades, long and short, for equities.
This entry was posted
on Monday, September 25, 2006 at 3:23 PM.
