Monday, July 16, 2007

Qs almost touched 50 Friday and show no signs of turning around as they are still NOT overbought. Carl Futia now sees the Qs at 53. I hate to be a shill for Carl but his calls have been impressive. With Dow 14,000 only a wink away, we'll probably see that too....maybe today as Monday's have the greatest probability for positive day follow through. I plan on pulling back on my trading this week, concentrating on short term scalps on the the Qs. Earnings and
various govt. reports could create some decent volatility this week and I prefer to have the exit nearby.

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