Stocks Flat, Cubes Speculator Bulletin Up

[Capital Essence NewsDesk] As predicted in the previous Market Outlook "Tuesday rally is definitely refreshing, though, we'd caution against reading too much into the rally…until proven otherwise, trading range remains the name of the game" - stocks closed around the flat-line Wednesday.

Editor's Note: below are just some trading ideas flow from our latest Headlines.

"Cubes Speculator Bulletin"

September 11, 2007 @ 11:27 PM:

• The "cubes" is still trading in a range and we don't expect to see big moves…it will possibly trade between the pre-defined support and resistant tomorrow.

September 12, 2007 @ 12:47 PM:

• QQQQ seems to be ready for a pullback. A failure to take out the noon high @ $49.37 in about an hour or so will confirm this. Expect a retest of today's low around $48.80. The downside trigger would be a decline to below $49.10.

September 12, 2007 @ 3:17 PM:

• As predicted, the "cubes" breaks below $49.10. Although, it's going to be tough for the bears to push the prices below morning's low.
• Breadth is slightly negative and we expect the tape to close this way.
• Day traders should cover the position ASAP.

Just so that you know, after an initial break down below $49.10 around 3 PM ET, NASDAQ-100 ETF (QQQQ) followed through to the downside and hit as low as $48.87. Any downside put option traded could have made, at least 20% in less than an hour.

 

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