etfmsolutions: QLD flat for Friday....05.03.18.

Thursday, May 3, 2018

QLD flat for Friday....05.03.18.

All models are flat for Friday. QLD is actually up nearly 1% after hours and we may see a continued surge tomorrow if the crowd believes the China trade wars are a non-issue.
In the meantime we had a teachable moment today as the DOW began its 350 point plunge and we looked to the Qs to provide a relative bulwark of strength.
See below....we use the parabolic indicator as a kind of second sight on all trades. When it turned over early on (30 minutes in)...following decay in the MACD we exited out long QLD position...more than a full point above our limit stop. This looked like a really smart move at the time as the markets eroded away but the afternoon session brought in the buyers with QLD ultimately closing only .2% down.
Still... we avoided getting stopped out at our limit which would have cost us another full 1% loss.

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