Nerve Wrecking day will be

First core tenet of Technical Analysis

Market Action Discount Everything, Everything is a loaded word. It is because all of the news, insider information, dividend, and estimated values, etc., are all reflected immediately on price. But technicians are usually late to the trade, because most of them need confirmation of the move is in progress.

Jesse Livermore described in his book: How to Trade in Stocks stated that stocks usually bounce three times. But this is loaded observation too. The way he counted as a bounced may not be the same as mine.

So at the end of the day, I show a 3 mos chart to him and let him tell me if it is going up. In his words there are three:
1) up
2) up
3) up and down and up and down

Best of success everyone.

At closing, the NASDAQ closed below a strong support level yesterday aka 2,000 pt.
Either you can enter a long position on QID, or puts on QQQQ or anything in your delight.

shorts: QQQQ
longs: QID

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