Monday, March 2, 2009

QQQQ BB crash trade

With today's extreme move down we now have a Bollinger Band crash trade on the cubes for the first time since Jan.

I wouldn't expect too much though since we still likely have 1 or maybe even 2 weeks before the daily cycle is due to bottom.

This may be good for a one or two day minor snapback rally. That's probably about all one can expect at this point.

This actually may be a better signal to briefly cover shorts than as a long signal.