I was going over the Q's last night during our local Meet Up group and I was expecting a gap up or a neutral open then a rally, but I mentioned if price were to gap below yesterdays last hourly green bar, this would or could set up a measured move lower. Well, we opened neutral and chopped around for the first 1/2 hour then price engulfed yesterdays last green hourly bar. I zoomed down to the 5 minute chart of the QQQ and got short at 97.02. It took a little bit but the market started to breakdown as I expected and I hit two of my three short targets. I was able to add shares back short and even milk this play again as prices headed lower nicely. I even added more shorts a second time, but had to finally end the play as the market got bullish taking out the last pivot high that had formed. This is a great example of what a professional trader is looking to do on every trade.
QQQ 10022014