We have been stopped out of the Short trade in QQQQ at 55.69 with a loss of $1.09. The QID has not yet been stopped out.
All other signals still in effect.
Best To Your Trading!
Bill
Monday, January 3, 2011
First Trading Day, 2011
Mr Market is starting the new year with lots of firepower.....with the Dow up 110 in the first 30 minutes, after being up 75 to 80 over night. BAC has settled "put back" claims for 2.6 Billion, sending the stock up 4.5% to13.95. Reports over the weekend have European Manufacturing continuing to improve, while most European indexes were mixed. Asia mostly higher News this morning has the Construction up and the Manufacturing reporting the best levels in 7 months.
Oil is up 1, trading at a new recovery high of 92.37, and Gold up a few pennies at 1,421.8. Silver is trading at a new high of 31.06, while strength continues in the commodity complex. Treasuries are off, with the long bond down almost 1.5 points at 4.42% and the 10 year down almost a point, at 3.41. Yield curve continues to flatten, now at 1.01%. The Dollar is up a couple of ticks, as is the Euro.
Our momentum change reported for the Q's, generating a new Sell signal at 54.60 late last week is trading at 55.56. Our Stop Loss is at 55.69. If we get stopped out, we will watch for either a momentum change, or an opportunity to re-enter the Short trade. The Stop Loss for the QID is at 10.99.
We will post an update around 3:00pm....watching especially the Q's.. it is unlikely that a momentum change will occur today, but it is clearly moving against us at this time and we won't wait around for a momentum change.
Best to your Trading!
Bill
Oil is up 1, trading at a new recovery high of 92.37, and Gold up a few pennies at 1,421.8. Silver is trading at a new high of 31.06, while strength continues in the commodity complex. Treasuries are off, with the long bond down almost 1.5 points at 4.42% and the 10 year down almost a point, at 3.41. Yield curve continues to flatten, now at 1.01%. The Dollar is up a couple of ticks, as is the Euro.
Our momentum change reported for the Q's, generating a new Sell signal at 54.60 late last week is trading at 55.56. Our Stop Loss is at 55.69. If we get stopped out, we will watch for either a momentum change, or an opportunity to re-enter the Short trade. The Stop Loss for the QID is at 10.99.
We will post an update around 3:00pm....watching especially the Q's.. it is unlikely that a momentum change will occur today, but it is clearly moving against us at this time and we won't wait around for a momentum change.
Best to your Trading!
Bill
Sunday, January 2, 2011
Sunday 1/2/2-11
Bummer! Big 10 lost all three bowl games. I wish my Momentum Change Indicators worked as well for Collage football as it does for the equity markets.
Our Proprietary Momentum Change indicators have generated a new Sell signal for the COMPQ and the Q's. Thursday, 12-30, the QQQQ Sell signal was triggered at 54.60, with our recommendation of short of the ETF. For those inclined to trade the levered ETF's. the QID also generated a complementary signal, a Buy signal at 11.55 also on Thursday, 12/30.
We have all noted that the NASDAQ has led the rally since 9/1, with out an interruption. Now, with the change in momentum in this group, we will be watching carefully for a change in momentum in the other equity indexes. The Market may well open for trading in the new year with an over due correction of the 4 month rally. With the new Buy signal last week in the TLT, maybe the market is signaling a new preference for the "Risk Off" trade.
If we get new Momentum Change signals Monday, will will post them as they occur.
Best to Your Trading!
Have a Happy and Profitable New Year.
Bill
Our Proprietary Momentum Change indicators have generated a new Sell signal for the COMPQ and the Q's. Thursday, 12-30, the QQQQ Sell signal was triggered at 54.60, with our recommendation of short of the ETF. For those inclined to trade the levered ETF's. the QID also generated a complementary signal, a Buy signal at 11.55 also on Thursday, 12/30.
We have all noted that the NASDAQ has led the rally since 9/1, with out an interruption. Now, with the change in momentum in this group, we will be watching carefully for a change in momentum in the other equity indexes. The Market may well open for trading in the new year with an over due correction of the 4 month rally. With the new Buy signal last week in the TLT, maybe the market is signaling a new preference for the "Risk Off" trade.
If we get new Momentum Change signals Monday, will will post them as they occur.
Best to Your Trading!
Have a Happy and Profitable New Year.
Bill
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