Can the Q’s Pull Off a Successful Scale of Mount Improbable?
Posted on March 22nd, 2007 in Michelle B's Posts, Stock Market
Michelle B submits:
Do the Q’s have a hefty oxygen tank of a striving economy on its back as it claws its way up a tough path? The monthly chart for the QQQQ show the rarefied air suspended over it at present prices.
Tags: QQQQ, Technical Analysis
This post has 5 comments
March 23rd, 2007
Michelle,
The comments on your capitulation trade are closed, but I want to thank you so much for the post. I have been trying to trade this style and find it extremely difficult but when I do hit it, the rewards is great. My problems arise from the fact that I can’t read price and volume action properly. I thought I could but I realize that I absolutely can’t. Jamie recommended a book that I bought to understand this concept properly Techniques of Tape Reading by Vadym Graifer. Do you have any recommendations on how I could get better at reading the two?
Thank you,
LP
March 23rd, 2007
Hi LP!
I think Graifer co-authored a book with Chris Schumacher. Check out Schumacher’s website, Realitytrader–he has a video series on tape reading also I believe.
I first learned about trades based on capitulation when reading Schumacher’s column at RealMoney.
I will eventually write a post on what I know about capitulation trades for you, but at present I am having technical problems once again.
March 23rd, 2007
Michelle,
A thousand thank yous to you and I look forward to you debunking the myth that the capitulation trade is ultra dangerous.
LP
March 26th, 2007
Hi LP
I read Techniques of Tape Reading a while back, and it has some interesting info on price/volume and S/R interaction. However I suspect most of the techniques were learned pre-2000 (bubble burst), and wonder how well they apply to today’s market action.
ADD Trader
March 26th, 2007
ADD,
I hear you but if I get one or two things out of it, it may be worth thousands and thousands to me. I’m under the belief that volume is the key and I have noticed some things that lead me to believe that I need to start understanding it better. However, thank you for advising as I keep in mind the tech market luncay as I read the book.
Thanks,
LP