I got an answer from StockCharts.com about their QQQQ data but I’m still not happy!
Did the QQQQ really hit its 200 DMA yesterday??? Some charts say yes, others say no.
Over the weekend Duru and I were talking about how many wild spikes there were in the final minutes of trading on Friday. Like I suspected on Friday, that was a result of the Russell 2000 re-balancing. Some charts are so bad that I didn’t even know whether the data was legit. Alan Farley has written a good article about what happened Friday.
On a different note, if you’re still using Internet Explorer, you should know that “US CERT (the US Computer Emergency Readiness Team), is advising people to ditch Internet Explorer and use a different browser after the latest security …
There’s an interesting divergence between the QQQ and NDX today, but I think it’s actually because of what happened yesterday. Those two instruments track the same stocks, but yesterday the NDX was down 2.97% while the QQQ was down 3.94%. So it looks like some arbitrageurs have stepped in today to snatch a nice quick profit. As I write this the QQQ is up about 0.5% while the NDX is down 1%. How could this happen? My guess is that there was a bit of panic in the QQQ yesterday and it just got pushed down too far. This was free money for those quick enough to catch it. Reminds me of …
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