Smoking Securities

Half Baked High Finance

Posts Tagged ‘QQQQ

NASDAQ 100 Bullidex ($QQQQ)

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BPNDXQQV090528The NASDAQ 100 continues to fair much better than the S&P 500, exhibiting lower volatility with more rising stocks. How long this will last is undetermined, but it is best to wait for a trend change rather than anticipate it. I remain bearish on the S&P 500, and though I’m technically bullish on the NASDAQ 100, I suspect it is only a matter of time before this space succumbs to weakness.

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Written by chucklesamadeus

May 28, 2009 at 10:13 pm

3 NASDAQ Charts

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Price is the only thing that pays, but it’s not the only thing to watch.

Although the NASDAQ was up more than 2.5% today, 3 of my indicators remain bearish.

Chart 1: QQQQ (NASDAQ 100 ETF) is falling with volume not seen since Lehman’s went bust, yet it remains above the November lows. This feels like a dead cat bounce before the floor falls out.

Chart 2: This NASDAQ indicator synthesizes the % of Rising NASDAQ Stocks and NASDAQ Volatility, expressing a market environment beyond price. When it’s going up (X’s), more stocks are rising amidst lower volatility, and when it’s falling (O’s), volatility is increasing as fewer stocks increase. No X’s have been made, so I’m staying in cash.

Chart 3: An explanation of the Summation Index can be found here. Like the other two indicators, without a new row of X’s, there is no sign of a upside reversal.

Written by chucklesamadeus

March 4, 2009 at 9:37 pm

Posted in BPCOMPQ, NASI, QQQQ, VXN

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Ouch

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After losing ~4% of my equity in various long plays, I called it quits on Monday after the QQQQ’s breached 30.50 and went back into cash, the dollar (UUP) and some shorts. This market felt too heavy to rally, and time is working against it as GS and MS sag lower and lower, potentially sparking another Lehman-esque sell off. Since last November, I’ve seen ~15% of my trading capital disappear, which is very disappointing because my benchmark (a passive hedged portfolio I started in November of 07) has lost 10% in the same period (pathetic). Though I can find solace in beating the SP500, this is hardly a way to make money. Fucktastic… Nevertheless, like a true addicted gambler, I’ll stay in the game and ride the wave until I’m broke.

Written by chucklesamadeus

November 11, 2008 at 4:25 pm

Posted in GS, MS, QQQQ, UUP

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