Stock, Option and Futures Trading
We were looking at the QQQ $54.60 level in the last posts as the level the Q’s could grind up to then start the move down. You can see from the chart so far there has been value at the $54.60 level. The Q’s made a late day move from $54.66 down to $54 in the last 30 minutes of the day.
If this level holds early next week the Q’s are most likely going to make a move down to $52 minimum.
Next week I will be looking to buy FAZ or TZA Weekly Calls. We are already on the QQQ OCT 52 puts.
Have a nice weekend,
PS We have had the 2220 level for some time now as resistance on the NQ’s and today we made a high of 2222 and then made a move back to the 2195 for a 27 point drop.