"Water shapes its course according to the nature of the ground over which it flows; the soldier works out his victory in relation to the foe whom he is facing. Therefore, just as water retains no constant shape, so in warfare there are no constant conditions."
- Sun Tzu

Monday, January 23, 2012

QQQ at New Highs: Lessons from 2010

The Qs are trading at new multi-month highs, which bakes the question if one should buy at this point. The Nasdaq rallied to new similar highs three times in 2010 and each time QQQ kept rising another six percent for the next couple of weeks. So going long this overbought market for a short-term trade might make sense.

Here is how it played out in 2010:


The situation today:


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