The Qs gapped up in pre-market on low volume. The setup for the short was a confirmed break of the pre-market low. I shorted the Qs at $38.10 and set my stop 10 cents above the pre-market high. At 1:00 EST I lowered my stop to breakeven. A weak afternoon made the trade a winner - good for $0.65. This was my only trade today. Monday's are usually difficult and good setups are often hard to find.
Monday, June 12, 2006
Trade of the Day - QQQQ
The Qs gapped up in pre-market on low volume. The setup for the short was a confirmed break of the pre-market low. I shorted the Qs at $38.10 and set my stop 10 cents above the pre-market high. At 1:00 EST I lowered my stop to breakeven. A weak afternoon made the trade a winner - good for $0.65. This was my only trade today. Monday's are usually difficult and good setups are often hard to find.
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