Yesterday, I bought calls on QQQQ near the bottom. Easy money to be made.
What a difference a day makes! Yesterday, everyone thought financial collapse and war was coming. Today, the sun is shining and everything is rosy. You have to force yourself to buy when everything appears to be at their worst.
Doug Kass announced on Monday that he is all in short on the QQQQ. I wonder if he is still short.
I follow Doug Kass and he is usually right. If he is all in then I would have to say this rally will not hold. This might be the last move up before the big drop . Make me think I just might take my profit here!