I got into the QID pretty heavy at the open today (Remember a long QID is short the Nasdaq 100). The Nasdaq went down nicely after that, recovering later on in the day. I'm looking for the Nas to get down to 2200. I hope my stomach can get through tomorrow because it should get interesting.
On the long end, I finally spotted an entry point in Hittite Microwave (HITT). It tested the lows on lighter volume and should head higher soon.
I'm tempted to short some of the airlines. They are extended and fuel costs are going through the roof. Lan Chile (LFL) would have been a perfect short during the second peak of the double-top but I missed it. I will look to short this guy when it sinks below the 50 day moving average.
This chart looks a lot like the CorVel Corp (CRVL) chart of a few weeks back.