Wednesday, June 11, 2008

Nasdaq Broken


Here's a chart of the Q's.

The March uptrend is broken. The November downtrend reigns supreme. Support at $48 is broken. Today we closed below the 200DMA and the 50DMA. Not looking good.

I bought 50 shares of QQQQ at $48.50 in my Roth account last month. I think it may be time to bail on a small loss. This thing is oversold - hopefully we'll see a bounce and I can sell on some strength.

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