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Missing The Point


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There's been a lot of put activity on QLGC carrying over from last week. Just noticed that the April 40's have traded 3037 contracts today on 10 tades. That makes the average trade size 303 plus. Last quote I have is 8.50. Interesting.

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From Gary Kaultbaum ealier today.




I try not to get in front of the market but I am seeing some things you need to know about.


With the NASDAQ violating its high volume...cup and handle breakout...it is now setting up for an important head and shoulders top.


Think about it. We are now headed into the holidays where markets get seasonal strenth. So...what if the NASDAQ rallies back up into 1410-1420 area in the next 2 weeks and than fails. There is your head and shoulders. The timing of the holiday season rally and dumping in January would be perfect. All the donutheads would be expecting more of a rally because of the "January effect". Now...all this may not happen but I thought to put it out to you. Just like when I mentioned the potential double bottom for October in September. Should be interesting."

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