Gap Filled and Going Short

By Mark on March 13, 2008 1:33 PM | 0 Comments
The Q's gap just filled and I just went short by purchasing 40 contracts of the Mar 42 Puts (QQQOP) at a price of $0.42. The Q's have made a nice move up to fill the gap down open but seem to have stalled at the $43 level. the Q's are now back at the top of my 15 day trend channel. So now is the time for me to go short. I'm looking for a move back down into the $41-42 level sometime next week.

I will use a stop of $0.30 for this trade.

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