QQQQ TRADERS

[J_Livermore]

gnawbone - as many researchers have found, sometimes when you concentrate on the big Picture, and its Major elements, the answer to success Hits you in the eye - Just at the time when you need it most.

jl

[J_Livermore]

If correct about coming decline, 41.60 should not hold today.

JL

[J_Livermore]

gnawbone - I argue with myself constantly - often evolving well beyond second-guessing.

Can you imagine the arguments Moseley and Rutherford must have had with themselves in those darkened rooms?

JL

[gnawbone]

Hello, J_Livermore, I have also seen the general decay of board etiquette over time. Especially noticeable when the market moves against those with the most strongly held opinions. This is the downside of human nature.

I used to count photons in a dark lab and loved every minute of it. Never once had an argument with myself, well not that anyone else could hear!

I have not yet given up on finding intelligent, rational conversation with the mutual goal of increased earnings.

I wish you the best in your quest for fortune by the sweat of your brow.

Gtty,
gb

[J_Livermore]

Last post should of course read: 'on close below 41.40'.

JL

[J_Livermore]

Expect break to Q 40.00 in very short order, should Q's close under 40.40.

gnawbone: Please do not take offense at my lack of mano-a-mano manners.

I have found that very often, after a short period of time, boards degenerate into personality power struggles and ego stroking. Not my style. I prefer the clinical approach.

It is what it is.

Best to you.

JL

[gnawbone]

close qqqdo calls 0.10 loss, open qqqpo puts

I posted this for closure....

gtty
gb

[gnawbone]

J_Livermore, something dawned on me last night. That perhaps you are using this board to document your market calls and are not interested in dialogue.

If this is the case, please let me know and I will willingly exit stage right.

gtty,
gb

[gnawbone]

This does not "feel" right, with this range bound market but no reversal signal(short), back long with apr41c=QQQDO.

Too bad I got nervous earlier and sold my apr42c=QQQDPs, oh well tomorrow's another day.

gtty JL
gb

[J_Livermore]

Sell Short: 41.54 Stop, 41.52 Limit.

JL

[gnawbone]

I understand you concern wrt decay/wasting asset nature of options.

I have been caught way to often on that slippery slope.

One consideration might be deep in the money, at least 6 month out options. These can serve as less expensive sustitute for the underlying. I would not hold then too long and the spread can hurt.

I'm not trying to talk you into options, they are risky and you can loose alot of money if you are on the wrong side of the market, in a heart beat.

QQQQ spread is usually about a penny, you can't beat that.

[J_Livermore]

Because of the risk of time decay inherent in options, my approach is best use with the underlying physical.

GLTA

JL

[gnawbone]

JL, thanks for sharing, always interesting to hear how others are trading.

I primarily trade QQQQ options. Just exited QQQDP calls from this morning and am waiting to see if a puts are next and when.

gtty,
gb

[J_Livermore]

That is correct. The basic idea is to use intraday positioning to day trade to the close or, alternatively, collect a series of long or short intraday positions that should move in the direction of the weekly or monthly bias.

Currently, as I see it, the latter two biases suggest lower prices in those timeframes.

(By the way, to frenchee - thank you for the suggestion.)

JL

[gnawbone]

From your "Process" post it would appear your shortest time frame is EOD is this correct?

gtty,
gb

[J_Livermore]

Process:

Attempt to do no harm;
Believe in Mean reversion;
Assume normal trading range each Day, Month, Year;
Apply traditional Overbought-Oversold indicators to each period;
Identify Support - Resistence in each period;
Look for potential pattern formation in each period;
Identify Gaps;
Watch for clustering of 999 on Bid or Ask;
Most importantly - Guess alot!

Don't take these posts too seriously - I am just a rookie with too much of a statistics bacground for my own good.

JL

[gnawbone]

J_Livermore, would you comment on how you got the 41.42 res #?

gtty
gb

[J_Livermore]

Short Q's at 41.42 OB today. Intermediate term short side play in position. Look to sell rallies aggressively. Current 41.40.

JL

[J_Livermore]

Sell Q's: 41.33 OB for day.

JL

[J_Livermore]

Better a day early than a day late. Current 41.06

Next Target: 40.61 must hold if uptrend is to be sustained.

JL

[J_Livermore]

Projected close today: 41.47. Current 41.83

JL

[J_Livermore]

Ugly stick hits Bulls Today - Reversal likely.

JL

[frenchee]

JL,

Come on over and WAG the QQQQ. You would be a welcome addition...Don't forget to WAG the QQQQ at http://www.investorshub.com/boards/board.asp?board_id=1744

[J_Livermore]

H&S top forming on hourly. projects break of 40.61.

JL

[J_Livermore]

just one question: do you really want to be long the markets going into this weekend? Short Q's at will here.

JL

[J_Livermore]

Break of 41.30 a problem for Bulls: Current 41.34.

JL

[J_Livermore]

Elvis has left the building. Sell Q's. Buy Oil-related.

JL

[J_Livermore]

Today's Q Sell Point: 40.93 OB. Current 40.93

JL

[J_Livermore]

Enjoy a most pleasant evening.

JL

[J_Livermore]

Sell QQQQ 40.83 OB into close.

JL

[J_Livermore]

Resume shorting Q's on break of 40.58.

JL

[J_Livermore]

Short-term rally coming. Hold off additional Shorts to 40.92 OB.

JL

[J_Livermore]

Well-defined 'island-top' on hourly. Sell Q's at will.

JL

[J_Livermore]

Profits taken this P.M. Sell Q's above 41.40 today. Current 41.38

JL

[J_Livermore]

Katie shuts the door on the longs at QQQQ 40.78

JL

[J_Livermore]

Flush of shorts over at 41.14

JL

[J_Livermore]

Flush: 13:49

[J_Livermore]

Downside Ugly Cometh...Short Q's at will. Current 40.95

JL

[J_Livermore]

Short QQQQ above anywhere 40.85 today. Current 40.78.

JL

[frenchee]

Don't forget to WAG the QQQQ at http://www.investorshub.com/boards/board.asp?board_id=1744

[frenchee]

why JL?

[J_Livermore]

Short anything above 40.52 today: Current 40.51

JL

[J_Livermore]

You had a second chance to short today at 41.31 OB. Trust you did not miss it.

JL

[frenchee]

2002,

Looks like a good site for short-term forcasting. Are you a subscriber? If so, would you renew your subscription?

TIA

[mokew]

2002;
Interesting site, but a little too comercial for me.

[Rawnoc]

Gums.

[BRIG_88]

Brave....BRIG

[Here comes the night]

I have news for you..your ass doesn't have it contained!

[Rawnoc]

This board is almost as active as the rash on my ass.

[Myself °¿°]

fwiw NDX Vs QQQQ

NDX Vs QQQQ

Disclaimer chart sets for ($NAHGH) trend