Posts Tagged ‘ $SPY $QQQ ’


After a slow start in the morning in $SPY $QQQ ,  our  online live trading room came alive in the afternoon session, with some great calls made in $BIDU $SSYS $VVUS $ENR $DECK. All trades were easy and it is already turning out to be a great week for our traders in our online live trading room. Check out the charts below, and it will show you easy entries with pretty much no pain and smooth sailing right from the word go. IF you would like to have a 14 day trial to our trading room email me : for access asap and get your trading back on track with these bread and butter trades of mine 🙂

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Here is a quick followup on the post  which I did   on July 10th, 2012 as to why I went long  $SPY $QQQ at 3:50pm EST .

Let’s take a look at 6 things which has happened since then, all of this has been reviewed in our free online trading room , where we bounce ideas all day as well.

1. ON July 11th, we had a flush down which was quickly bought back up. Read this post about why it happened

2. ON July 12th, 2012 we once again had some bs news which came out and everybody was thinking for the world to be over again. But hey guess what the dips again got bought and we ended near the open of the day.

3. ON July 13th, 2012, as always after a few dip buyers, we see some conviction buyers aka followthru candle which was beauty. Enough said.

4. ON July 17th, 2012 once again Mr. Ben speaks, we get a flush down but hey guess what we tested 20ema on daily and dip buyers came back in. We did call it out in free online trading room  to start putting out feelers before we loaded the boat to go long.We also closed right above the neckline of the head and shoulders pattern which as been forming since Feb 2012.

5.  Today on July 18, 2012 we are back above the key 136 level and are going strong with no signs of weakness in the markets.

6. Next resistance is at 138.70 and after that is 141.75 which is almost the highs which we saw back in 2008.

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Trade Review $V

Inside day in $SPY $QQQ made it kinda hard to trade, with no followthru in most names on either side. The most convincing play of the day for me was $V Visa to the short side which was called out in free online trading room.. It had some settlement news premarket, which made it gap up above 127.60 on the daily chart. But with the market being an inside day not a lot of conviction to the upside so I tried eyeing it for the short side. $V went down 2 points from where I shorted, however from my trading plan perspective it was still a 4.5 reward to risk trade.

Shorting the gapup names are always tricky as you never know when those bag holders are gonna jump back in and drive the prices up.

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