8/11/14 was only down -$0.68. The model projects that the component on the 8/11/14 kill will be down between -0.75 and -1.05. There will only be three more days of data coming in after we get the 11:00 report. The QQQs are now discounted to the Index by -4.97. If we get the -1.05 drop in yesterday's component, then it will take a drop of 1.55 for the next three days to get the index down to the QQQs,

The average drop for the past 13-days has been -0.96. It doesn't appear to that there is much to be gained in being short the QQQs but there could be a little gained if packers fail to cut their bids as much as "The Market" is projecting. Having said that, my mind reflects back to that day sometime back when the component dropped 3.0 in a single day!

I have been able to scalp a few Q/V spreads from the long side and being short the Z/G spread is treating me well.

Best wishes,

dhm