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Registered User
Joined: 11/13/2004
Posts: 121
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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 :)
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Registered User
Joined: 12/19/2004
Posts: 415
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My guess would be 37.29(50 dma)-37.63(recent reaction high) with whatever stop loss you feel comfortable.
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Registered User
Joined: 7/30/2006
Posts: 2
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Trade with your indicators.. If you are using rsi and macd then wait until they are bearish... Patience is the key..
Rhoken
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Registered User
Joined: 1/28/2005
Posts: 6,049
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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
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Registered User
Joined: 3/9/2005
Posts: 71
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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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