Tuesday, April 7, 2009

QID Trade Update

Just wanted to make a quick post with a limit order to potentially sell the current QID position and simplify the exit for part-time traders.

For Wednesday place a day only limit order of 46.90 to sell QID on further weakness tomorrow.

The short-term model is nearing the oversold area, but not quite there yet. The futures are weak this evening as overseas market are falling thus far, and the kick off to earnings season was apparently not well received by the bulls. The close last Wednesday before the large gap up in the indexes last Thursday is the area being targeted by the limit order above. If things fall that low, I think the short-term model will be oversold.


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