The chart changed for the Market in the short term:
As you can see, the cubes are showing a gap up big white candle with no tail on top of it. When I made that trade on SPY earlier this morning, that wasnt there. Therefore all I have to do is wait for a top series of candles then double down to recoop.
Thats the nice thing about QQQ and purchasing calls and puts on it (or SPY). Very rarely does the cubes ever have a run away situation where things just keep going up, or a down situation where it just drops like a rock because it is essentially a composite of the market. It operates in waves. It advances, then falls back like the waves on a beach. And candlestick charting along with other technical indicator really gives you the information that you need to see these top and bottoms.
But a good thing to do is trade in the afternoon so you can see what the QQQ decided on for the day. Apparently things were still up in the air in the morning, and the cubes decided to push higher.
However, very recoverable in my situation.
Tradinginsider
Thursday, July 16, 2015
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» Looks like the Market is going to keep going
Looks like the Market is going to keep going
4:53 PM
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