Long the Q's with Calls

By Mark on June 6, 2008 12:39 PM | 0 Comments
The Q's look like they have found some near term support at the $49.55 level today and my indicators just turned positive for a buy signal. So I just went long the Q's for a swing trade back up to above $50.

I bought 40 contracts of the Jun 50 Calls on the QQQQ (QQQFX) with a cost basis of $0.75. My stop will be the lows of the day today at $49.55.

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