iBankCoin

Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

Video Analysis of the Q’s

chessNwine Fri Nov 5, 2010 3:57pm EST 15 Comments

While I am sure you know by now that I do not advocate fighting a strong trend, that does not mean we can simply bury our heads in the sand and buy stocks. In this video, I offer my thoughts on the $QQQQ ETF, for the Nasdaq 100 (I said Nasdaq Composite in the video). Also note that $AAPL has played a key role in the outperformance of the Q’s. Nonetheless, just as the final holdout bears are throwing in the towel on the short side, the Q’s are rapidly approaching that major October, 2007 top.

In other words, color me a whole lot more neutral in the coming days and possibly next two weeks or so.

_________

[youtube:http://www.youtube.com/watch?v=7zqDF0HU4eA 450 300]r

Email this to someonePrint this page
If you enjoy the content at iBankCoin, please follow us on Twitter

15 comments

  1. T
    T
    November 5, 2010 at 4:08 pm

    Thank you always. I can not live without you my love 🙂 Have great weekend.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. TimW
    TimW
    November 5, 2010 at 7:13 pm

    Thanks Chess, I’ve learned a ton from you over the summer. Keep it up!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. hubbs
    hubbs
    November 5, 2010 at 9:18 pm

    Chess, if i followed you in to a stock and not checking in on a daily bases, is there some kind of alert system i can use so when you make a move on that position i will know and take action in a timely way? My daily engagement with market has been rather damaging to my way of life.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • chessnwine
      chessnwine
      November 6, 2010 at 12:36 am

      hubbs,

      I understand. As of next Friday, i will be posting all trades in 12631 in lieu of iBC (i’ll still be posting macro analysis here), so if you choose to join 12631, I can see about trying to arrange some type of email alert system.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  4. BillTrader
    BillTrader
    November 5, 2010 at 11:40 pm

    Thanks Chess, well done.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. RC
    RC
    November 5, 2010 at 11:43 pm

    Great video Chess.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. Forrest1980
    Forrest1980
    November 6, 2010 at 9:45 am

    Great stuff as always… I’ve lost a bunch of money on this rally trying to nail a top that never came and now have capitulated along with Senior Fly. I’m indeed chasing stocks higher, so we’re definitely near the real top this time…

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  7. the Bull
    the Bull
    November 6, 2010 at 2:37 pm

    Chess, this looks like a huge reverse head and shoulders pattern on the weekly no?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • chessnwine
      chessnwine
      November 6, 2010 at 3:38 pm

      Yes, definitely. And to your point–I would expect some symmetry there with at least a period of consolidation at the Oct 2007 highs before move higher

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  8. GYSC
    GYSC
    November 6, 2010 at 4:14 pm

    I am a new member now! So much to learn about the PPT! Looks like fun but it may take me a bit to get going.

    • 0
    • 0
    • 0 Deem this to be "Fake News"

© Copyright 2007-2024 iBankCoin All rights reserved under penalty of bodily harm. DISCLAIMER: This is a personal web site, reflecting the opinions of its author(s). It is not a production of my employer, and it is unaffiliated with any FINRA broker/dealer. Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities. DATA INFORMATION IS PROVIDED TO THE USERS "AS IS." NEITHER iBankCoin, NOR ITS AFFILIATES, NOR ANY THIRD PARTY DATA PROVIDER MAKE ANY EXPRESS OR IMPLIED WARRANTIES OF ANY KIND REGARDING THE DATA INFORMATION, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. Privacy Policy