Thursday, April 07, 2005

Going short SPY QQQQ

Indexes are bumping up against their 50 dma and the move towards it has come on very weak volume. This is typical of a dead cat bounce. Bounce to the key moving averages and resume trend. With the lack of leadership in strong sectors, I feel confident about these positions. If I am wrong, no big deal. I will cut my loss at SPY 119.75 QQQQ 37.20.

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