QQQQ recap as of 27Nov06.
OE Pivot, 44.30 (up 6.5% YTD)
OE High, 44.86 (up 1.3% for the DecOE)
OE Low, 43.34 (dn 2.2% for the DecOE)
Total Spread, 1.52 (3.4%)
The Q's have tagged the R1 (44.85), and retreated quickly back below the OE Pivot, 44.30? This is inherently negative as it's never a good thing for prices to CLOSE below the OE Pivot!
That said, a quick trip down to -2.2% along with a quick bounce, on a CLOSING basis, back ABOVE the S1(43.75) is signalling more up to come? Add in the infamous 401k Rape-n-Pillage play on 30Nov and 01Dec and one could easily have higher expectations for prices? Heck even the TA, Charts, Fibs & Lies players will act like their indicators have suddenly become relevent, yeah right, as prices march higher into Friday, NOT?
We should find support over the next few days as selling pressure abates? With a 401k hand-off scheduled for 30Nov/01Dec we can expect prics to back-test hte recent highs of 44.86 and maybe even exceed that high by a few pennies?
This Year-End Markup phase should continue through 31Dec06 as 401k, Pension, and bonus monies come pouring in, hence, down action will be followed by up action as prices finish forming a Distribution "TOP"?
We got Long yesterday with Dec44 calls (.45/.50), and Dec45 calls (.15/.20), and we'll liquidate those positions as prices closes above the OE Pivot (44.30), and get Short as prices attempt to breach the R2(45.41)?
Good day.
For your amusement and a good laugh, here's the OEPM 4cast-r's numbers - AGAIN!?
Date Open High Low Close
Actual
24-Nov 44.40 44.86 44.38 44.65
27-Nov 44.52 44.61 43.64 43.66
28-Nov 43.52 43.84 43.34 43.77
4cast
29-Nov 43.94 44.71 43.94 44.67
30-Nov 44.55 45.19 44.49 44.83
1-Dec 45.15 45.41 44.84 44.90
4-Dec 44.89 45.24 44.65 45.06
5-Dec 45.15 45.31 44.23 44.28
6-Dec 44.31 44.73 44.20 44.54
7-Dec 44.17 44.97 43.90 44.81
8-Dec 44.58 44.83 44.46 44.68
11-Dec 45.01 45.14 44.73 45.07
12-Dec 45.07 45.41 45.03 45.29
13-Dec 45.30 45.52 44.92 45.12
14-Dec 45.14 45.26 44.55 44.70
15-Dec 44.36 44.54 44.16 44.16
