Well it was another dull day for trading the stock market. I only had one long on my list and it went short. The market (QQQ) had a small gap down but then went sideways for most of the day. Finally at 2:15 pm reversal time, price in the QQQ broke down below the low of the day of 97.08 closing the 15 minute candlestick with a solid red bar. I'd been watching all day as price kept testing the area but could not break through. I knew if it did my target was at 96.44 cents a nice lower void below. My entry was just near the low of the 2:15 pm red bar on the 15 minute chart at 97.07. Price moved down nicely but at one point I thought price was going to bounce. The Q's finally rolled over and headed to my target, but I found myself covering my shares at 96.66, as I was running out of time for the day and I did not want to set through another pull back fearing price would be worse than 96.66. Overall another great play in the Q's...
QQQ 10072014