Starting off my first week writing Squid options, I am going to post what I normally do on a weekly basis. I trade QQQQ’s and the first of the week, the first thing I check is how the cubes did the previous week, and the trading range for the next week. I see short term resistance around 43.30 & and support at 42.25. When I say short term, I mean for the next week or so. I do see buying if a breakout above 43.50 in the QQQQ.

On the longer side, we won’t see anything until we pass 44.0, where it would be a good time to take a look at our position.

For Monday, i am looking for a tighter range between 43.0 and 42.55

~squid

Related posts:

1. The market shows some strength The market shows some strength on Monday. The cubes...
2. Optionetics, quite frankly can kiss my shiny metal ass I was trying different trading rules for the last few...
3. Another good day Another good day on the street. The QQQQ’s took out...

This entry was posted on Monday, March 19th, 2007 at 2:11 am and is filed under Index Trading, NASDAQ 100, Option Trading, QQQQ.