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Shorting the QQQQ Rate this Topic:
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gsn
Posted : Monday, August 14, 2006 5:46:37 PM
Registered User
Joined: 11/13/2004
Posts: 121
I have never shorted a stock or ETF. I have made all my money long. I am looking at shorting the QQQQ, thinking that we could hit the 2004 and 2005 lows, maybe even the 2002 low, before we enter a new bull phase. Obviously, if I had been smarter, I could have shorted in mid-May. What would be a good entry point now? Where would you look at entering a short trade now? Today's high of 37.27 looks like short-term resistance, but MACD and RSI are sending bullish signals. Should I wait till 39.14? Any advice much appreciated for my first short :)
bknight
Posted : Monday, August 14, 2006 6:38:35 PM
Registered User
Joined: 12/19/2004
Posts: 415
My guess would be 37.29(50 dma)-37.63(recent reaction high) with whatever stop loss you feel comfortable.
rhoken
Posted : Monday, August 14, 2006 6:42:40 PM
Registered User
Joined: 7/30/2006
Posts: 2
Trade with your indicators.. If you are using rsi and macd then wait until they are bearish... Patience is the key..
Rhoken
diceman
Posted : Monday, August 14, 2006 8:35:57 PM
Registered User
Joined: 1/28/2005
Posts: 6,049
I agree with rhoken.

The march 03 decline was -14.97%
Aug 04 was -15.8%
April 05 was -14.6%
On 7-21-06 we just hit -16.3% for this selloff.

All major lows would make good "trip" points for shorting.
06 and 05 and 04

Since mid months tend to be flat anf end/beginning of months tend to
be positive and next month is September.

I would look to short the Q's early next month.

Thanks
diceman
robwiley
Posted : Tuesday, August 15, 2006 11:24:15 AM
Registered User
Joined: 3/9/2005
Posts: 71
Look at the Stocs.
15 minute, daily, weekly.
What are they doing?
Vol confirm??
What are the support resistence levels telling you?
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