Thursday, August 20, 2009
August 20, 2009
Good morning all, we are looking for QQQQ target at 39.76 today. Sometimes the target can be exceeded or just missed by a nickel or something. From what I know about trading, it is not about getting the best entry point. It is about making the correct direction or trend. If you are making a correct direction or trend, you will make profit no matter what if you don't get the best entry point. Happy trading today.
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hit your target. nice call. how did you go about analyzing to get that number? my only assumption is that it will fill gap and back test previous high but it got a bit further
ReplyDeleteThe QQQQ had hit 39.71. That is close enough. It missed by a nickel. Another amazing call from yesterday.
ReplyDeleteThe first time it hit 39.71. Now it is trying again to hit my target. The second time it did hit 39.75. Can it be hit? If not, I missed by a penny.
ReplyDeleteRight now I am crunching the numbers to find my next target either on SPY or QQQQ. Stay tune.
ReplyDeleteHello gcl, have been following your calls on the SPY board. Best of luck and hope this grows into something really big for you. Rgrds, keb
ReplyDeleteOk folks. Here it is. My next target for QQQQ is at 39.07. It is either hit today, tomorrow or Monday.
ReplyDeleteEither QQQQ hit 39.07 or SPY hit 99.10 first today, tomorrow or next Monday. This is the best opportunity to short at this point.
ReplyDeletepartial fill at QQQQ 39.75. ditched rest at 39.61.
ReplyDeleteIn the inverse QID and get out when QQQQ near 39.07.
BAS, were you able to short QQQQ at 39.75 at all?
ReplyDeleteQQQQ and SPY will hit those target in the next few days.
Sorry - partial fill on my limit sale from long position yesterday at $39.25 on QQQQ. Unloaded rest at 39.61 when I got your latest calculations.
ReplyDeleteJust went to QID instead of trying to short QQQQ at $39.60.
BAS,
ReplyDeleteIn sports betting, the bookies had the juice at .10 for each game betting. In casinos, the house has the advantage for each game at 1% to 10%. In stock market, we give away the transaction fee and taxes. But if you were able to scalp every nickle, dimes and quarters. It adds up.
For example, if you ever take taxi ride at all. Right away the taxi driver charge you the initial fee. So the taxi driver will be happy if all the rides are short.
FYI, I bought Septmember QQQQ put. Once it hit my target at 39.07, I will get out.
How do you go about calculating these price targets gcl?
ReplyDeleteThat was in August 19 comment sections.
ReplyDeleteAre you surprised how all my targets are almost dead on?
ReplyDeleteLet me tell you a story of me when I was younger.
My friend and I graduated at Penn State with the same degree, Mathematics. I got better grades than he did. He and I applied for a job at Goldman Sachs afterward to use our higly math skills. He got the job and I didn't. One year later, I applied again. Goldman Sachs turned me down. To this day, I never knew why. I got a government job instead working on aerospace project. Over the years I slowly developed a simulation for trading stock market. While my friend at Goldman Sachs knows the ins and outs of financial firm. Recently he got laid off. And now I still have my government job and also almost perfect my trading model to show it.
Well i know that gcl used price action/gaps/support/resistance and etc but i was just curious behind what he does with them. I wish I have a degree related to stock market in a way. I went into college wanting to be a doctor and 3 years later while still studying for my bio degree I had a change of heart and now my devotion is in the stock market. I probably read more stock books than i ever did science books lol
ReplyDeleteQQQQ in breakout you were wrong
ReplyDeleteHow can you say he is wrong? It hit his 39.76 target.
ReplyDeleteHis next target is 39.07. He didn't say it wouldn't go higher first.
He is not giving you turning points, he is giving you targets. There is a difference.
Keep up the great work, glc.
Well, finally my 39.76 target is hit. It tried several times this morning. Next target for QQQQ is 39.07. It is either hit today, tomorrow or next Monday. If you shorted QQQQ at 39.76 and it went higher, don't be scare if it did went up .10 or .20 cent more. Don't get your emotion involve. I am not saying that QQQQ could hit 39.96 before the move down. The reward is greater than the risk right now. You got .69 cent reward over .20 risk. That is 3.5 times greater reward.
ReplyDeleteWow. Yesterday, QQQQ closed at my last target at 39.30 and today it closed at my target again 39.76. Ok. Would it close at 39.07 tomorrow?
ReplyDeletelooking good
ReplyDeletefutures ES#F 12:40 AM EST @ 997 vs 1008 @ 3:30pm EST
You had a target of 39.07 for qqqq on August 20. Looks like it may hit today.
ReplyDeleteOne more note, all this bearish action in the midst of good news(as painted).