Saturday, April 21, 2012

21st April 2012 – Going after the Q (kill) Q (kill) Q (kill)

Buy $

Sell $

Sell Short $

Buy Back $

Stop Loss $

Profit / Losses

Duration

11.00

 

 

 

10.70

 

 

 

temp Reason for Buy / Sell / Short / Cover:

 

  1. All indexes are getting weak.
  1. AAPL stock got hit and start to get weak and AAPL constitute a high percent in QQQ ETF. Instead of shorting AAPL, we can actually invest in SQQQ.
  1. Intraday has demonstrated 2 weeks of uptrend channel and $11.00 looks like a promising entry point not to be missed.

 

Lesson Learnt:

 

  1. Daily and Weekly charts indicated that we have SQQQ has a turning point at the start of April month.
  1. From the weekly chart we can see a high volume supporting the turning point.
  1. All daily and weekly secondary indicators all shouting for entry.
  1. Daily chart shows that price has poke through its 20MA line and now 20MA line is curving up and become a support line.

 

Intraday Chart

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Historical Chart

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