The QQQ opened with a slight gap up this morning @ 84.21 and rallied into 9:35 am reversal time then sold off hard into 10:05 putting in what I like to call a mini climatic on volume that could have been bought. The market then rallied into the official start of lunch on wall street 11:15 am to set the high of the morning @ 84.47. The Q's have since faded off the high of the day and is currently trading @ 84.35.
QQQ 11262013
Only one play this morning and that was in DIS which I found while doing my 9:45 am wide range bar scan. DIS had a small gap up and go this morning and had a beautiful, green, wide range bar after the first 15 minute of trading. By 10 am reversal time DIS had put in a bottoming tail with a red body bar. As soon as the high of the Red body was taken out, I was in long over .49. Price action was so bullish that DIS moved on up painlessly to my long target found using the daily pivots @ 70.95. I sold 1/2 of my shares @ .93 and sold another 1/4 after a nice pop higher to 71.10. I was attempting to hold out to a 2nd target located @ 71.33 but I thought I better sell my final 1/4 shares and wait for another setup. A fantastic play in Disney on this slower of slow trading days.
DIS 11262013