Monday, March 31, 2008
QQQQ holds on to gains stubbornly
After bouncing surprisingly strongly, the QQQQ has fallen only modestly since its peak last week. We think this is likely to be short lived and selling pressure should resume soon.
Wednesday, March 12, 2008
Massive rally
It is unusual to see market action like Tuesday's, when the QQQQ rose almost 4%. The three previous sessions were putting our current long signal under pressure, with a sudden recovery yesterday. The rally appears to be carrying through to today. It is impossible to say whether Tuesday marked the bottom of an extended bull or just a short term wave, but we believe the long side is the place to be currently.
Monday, March 10, 2008
Early call to market bottom
Our call for a bottom was early based on the last three sessions, but information from both the QQQQ and a secondary index we follow closely, the Russell 2000, seems to be pointing to a near term market bottom.
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