The NASDAQ (NDX 100) started today strong trading all the way up to the 3003 – 3004 level only to start a downward spiral all the way to the end of trading, closing at 2990. INTRADAY, we belief that the lower risk trade is to go short at spikes. S&P upgraded the USA credit outlook to stable from negative. Right after the announcement the NDX 100 moved upwards only to give up all the move after 1:00 PM …… thus we have a short biased (after spikes).
Under the current environment, we strongly prefer to trade on a very short term basis thus avoiding the stong weekly volatility.
Today´s reccomendations yielded a Profit of 6.25 point on de NDX-100