If red were to come up on a roulette wheel ten times in a row, would you start betting only on black? Many less-seasoned gamblers would, perhaps even increasing their bet size if the streak continued. That might sound like a way to make a huge score eventually, but in fact those who bet like this habitually are almost guaranteed to die broke. For, sooner or later, they will have everything riding on a single spin of the wheel, and then red will come up one more time in a row than anyone in the casino can recall. So what does that tell us about the immediate prospects for the QQQs, which have risen on eighteen of the last 20 trading days? It's tempting to argue that the tech-heavy Nasdaq 100 index can't keep going up like this forever. While correct, we shouldn't be too eager right now to fade a winning streak that may yet prove to be longer than anyone on Wall Street can recall. Actually, seasoned speculators might be inclined to bet the streak will continue, knowing as they do that the stock market is not roulette. Russian roulette is probably more like it, since each new bullish day for the QQQs brings bears that much closer to pulling the trigger to end their pain in a suicidal explosion of short-covering. We can only speculate as to when this will occur. Perhaps it won't be for weeks, when the streak has reached 32 days out of 35. Or maybe it will be as early as Friday, after the QQQs have rallied for two more days and are threatening to do so for yet another as the week ends. Although we cannot personally recall the Nasdaq having risen for as long as it has already, we'd prefer to
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