QQQ (our newsletter chart below) was called short again at the break from that rally attempt 35ish..and that's where the short was (34.93 to 34.84) You might have also shorted earlier but definitely in the 34.60 area you would be shorting the lows again. The QQQ might though be a swing play. Following others into plays shorting lows and buying highs is not the way to trade, neither is buying falling knives because of small "pauses that refresh" Our initial target was 34.50 but I think we are going to head even lower on the QQQ. I expect any minute the lows to be taken out. LOVE THIS EARNINGS SEASON!
ERTS puts up 88% and I do suggest holding 50% through earnings. We are NOT looking for a CECO/SLAB gap 'n snap which is pretty unusual at these prices. An e-mail update will be sent out to subscribers tonight on earnings results and what they can hope for in the morning. We have one more day of this frenzy and for my part I could play like this another few weeks. REMEMBER THE OPTIONS are just the GILDING OF THE LILLY we were short ERTS first from 105 and then from 104 (posted to subscribers in the real-time trading room). (yesterday's watch list was adjusted to reflect intraday reversal periods) Target is 99 and lower.
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