Mind your p’s and QQQQs (and a lot of other stuff)

Posted on Apr 10, 2009 by in Letters

The QQQQs appear to have broken out of a rather long double bottom.  There are a lot of considerations and opinions and emotions flying around about the market -- but it's the chart that rules.  And this is a buy signal.  Everybody knows we think this business (the rally) is a bull trap.  But what if it's not?  Besides if it is we have a way of dealing with it.  It's called stops and getting off failed experiments.Beautiful neckline.  Gap up on approach.  Pull back.  Gap up.  Simple.

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