Tuesday, October 1, 2013

Tuesday evening QQQ


QQQ monthly

Thanks to a last minute surge, the Nasdaq 100 closed at a new recovery high.  QQQ is now back to levels last seen in November .. 2000.  The Russell 2k made a new all-time high.  S&P and Dow are lagging a bit.

Tuesday afternoon

DIS Daily Chart (10:57 EDT)
Since the government is closed and no visitors will be touring Kennedy Space Center and millions of public sector employees have time on their hands this could be good news for Disney's theme parks.  The stock looks like it has decent support just above the 50 day sma and it's sitting on the 20 day sma now with the 150 and 200 day averages moving higher.

The stochastic is still showing weakness so maybe the stock will move lower but if you have a tight stop this could be a good entry.  I'm looking for some calls 2 - 3 months out.

Tuesday morning

Just chillin' while they futz with the budget ...