Friday, August 21, 2009

August 21, 2009

Today we are looking for the QQQQ target to hit 39.07 either today or next Monday. This morning I crunched the number again. There is a possibility that QQQQ could hit 39.96 to 40 first before it reverses down. There is some thing watch. Yesterday one of my posts stated that QQQQ could hit 39.96. We'll see.
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13 comments:

  1. gcl106August 21, 2009 at 10:18 AM

    Well, well, QQQQ had hit 39.96 to 40 this morning. It was on its way down until Bernanke make a speech at 10:00 AM. The market shot up. I didn't expect that speech was coming. This will delay our target at 39.07.

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  2. gcl106August 21, 2009 at 10:49 AM

    The QQQQ 39.07 target will be delay now. I was surprise by the news on Bernanke speech. Recrunching the numbers. It gives me SPY will drop back down to 102 in few days. This will give QQQQ at 39.90 in few days.

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  3. gcl106August 21, 2009 at 1:06 PM

    There is a great shot that QQQQ and SPY will fall back down this afternoon to pre Bernanke speech which QQQQ at 39.90 and SPY at 102. If the momentum follow through hard, it could close the morning gap. Stay tune. If it does, the Bernanke speech is just a blink or outlier data.

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  4. gcl106August 21, 2009 at 1:43 PM

    I would like to know who enjoy my posts here. Is it helpful? What can I do better?

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  5. AnonymousAugust 21, 2009 at 2:00 PM

    i am keeping an eye on your posts. long qid and sds and looking for the typical day end ramp job to stop me out. with opex, one would think a minor pullback as you suggest would be in the cards, but these are crazy times in the market and closing is a crap shoot imho.

    jdt

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  6. AnonymousAugust 21, 2009 at 2:02 PM

    P.S. watching US$ and vix.x

    jdt

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  7. AnonymousAugust 21, 2009 at 2:07 PM

    VIX trying to go positive. interesting with SnP way up.

    jdt

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  8. BASAugust 21, 2009 at 2:16 PM

    options exp days are usually f*d up.

    I'm long QID too.

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  9. UnknownAugust 21, 2009 at 2:24 PM

    I find the comments very useful. I'm short the September 40 QQQQs and beleive we will be down in the 35-36 range by the 2nd week of September.

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  10. RareNuggetAugust 21, 2009 at 3:16 PM

    I like your post. Keep it up!

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  11. gcl106August 21, 2009 at 4:03 PM

    Ok. Finally my consecutive calls had ended. I know that I couldn't keep it up and batted 1000.
    Today Bernanke's speech and option expiration day might affected it. I am here not to blame anything. My call for QQQQ and SPY still stand.
    QQQQ at 39.90 and SPY at 102 in next couple days.
    Have a great weekend.

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  12. MattAugust 21, 2009 at 4:45 PM

    Do you make longer-term projections?

    and if so, would you use your short-term price targets to get long?

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  13. UnknownAugust 21, 2009 at 11:59 PM

    I love your blog and just started reading it everyday...today was a strange day...look at 1987 comparison if there is any:
    On the 1987 chart of Dow. 5-20 to 8-19 gain of 23%, dropped 1.7% on 8-18 (like this past Monday) rallied 2.5% more until 8-25 then major distribution began with dow down 8.5% by 9-21, a 6% gain by 10-5 then back down huge 15% by 10-15 and the 22% crash on 10-16 Black Monday.
    Keep up the good work

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