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ProShares Ultra QQQ Message Board

  • nautibm nautibm Sep 4, 2008 1:10 PM Flag

    Where is the bottom?

    For 8 of the past 10 trading days, QLD has had lower highs and lower lows, today makes 5 straight days of lower lows. 73 looked good on Tuesday, then 71, then 70, then 69, but so far today's low is 68.96. Do you buy today at 69 only to watch it go to 67 tomorrow? This was 82 two weeks ago. My $76 shares are hurting big time.

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    • Support1: 66.94 Support2: 55.69
      Resistance1: 77.20 Resistance2: 83.55

      i bought today at 66.50 next buy at 56.00 good luck.

    • We are now (intra-day) a shade below the August low but still about 10% above the March low.

      I just bought a bit more to lower my cost from 75 to 73. As you point out, being down so consistently over the last 2 weeks, probability (if nothing else) suggests we're due for something of a rally. But, as they say, the market can remain irrational longer than you can remain solvent. I've got a bit more dry powder, but hope the market turns before I need to use it.

      Damn, QLD has fallen 50 cents since I started typing this. I suppose I should research how the NAZ does on days after major (35+ point) drops.

      Good luck to all.

    • I don't own QLD but I would if I had the cash left. The reason a banker friend told me they were buying, on 3/18/2008 to buy in mid 60's and hold for +10. Have not talked to him lately.

    • lucky you. I'm stuck on 81.

      well, I feel the market is ready for a major capitulation and then rally will start. So get ready for bit more pain, but market will turn around.

81.49+0.08(+0.10%)4:00 PMEST