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Earnings Warnings/Confession in full swing next week
should help the slide down!!
Slide slide ... slippery slide
We may see a bounce tomorrow but next week should see the real selling from the "Da Boyz" :)
Added to short QQQQ position this morning
You may get your wish northam 43
Closing in on 11650 ... I also think we pull back starting tomorrow. Q's closing 40.55 below/above is key now :)
Still think we recover to close higher today
possibly close to the HOD .... lower tomorrow then.
Since I am a LT Bull, I agree that we will be higher than where we are today by April '07 ... 47-48 should be easily achievable.
Still feel we need to pullback in the 37-38 range by mid-Oct before the run up.
Q's AH 40.03? Any news - is that correct?
Coup probably an excuse though
if you remember back around Oct 1997 (I had just started seriously investing around then :), the Thai currency crisis triggered an Asian meltdown taking Global markets down for a few months.
Stocks Off on Rumors of Coup in Thailand
http://biz.yahoo.com/ap/060919/wall_street.html?.v=19
Yahoo sees Q3 results at bottom half of forecast
http://biz.yahoo.com/rb/060919/media_yahoo_forecast.html?.v=2
Trend has reversed with this hard selling
Trend is now down for the next few weeks ... Ride them down :)
Agree with nofluff - staying short atleast till mid-Oct
sold all long positions friday and went short Q's and bought Oct 40 puts. Rate pause is priced in and should sell on the FED announcement.
Sell on the News at FED annoucement
I'm on this camp and agree with Spooky that it has been priced in this run up .... and staying short until a close above 40.55 proves me otherwise.
Thanks 2X ... I am a LT Bull
who in the short term thinks the market will pull back given the Sep/Oct weakness (4 yr cycle, Bradley turn date) ... will watch how the next 3-4 weeks play out and may re-enter long position.
I usually do not day trade but play the IT trend. In the long run, I am still in the Bull camp - so am taking PS' target of Q's in 20's with a grain of salt :)
But am open to change if the trend changes.
Thanks PS - lucky, I guess
Expecting your wave down to start mon/tue through at least mid-Oct ... now that the OE euphoria is over.
And by magic ... will it close at 40?
Long to Short
Sold all long positions ... short QQQQ @ 40.27 and bought Oct 40 puts (QQQVN) @ 0.65
On the same opinion as Farooq - let's take this down to 37-38!
Here comes the afternoon PUMP!!
Yup boring staying there at 39.9x though it seems typical this week for a weak morning and pump in the afternoon.
Let's see what the afternoon brings ... does look like the Q's are loosing steam here and they want to keep it around 40 for tomorrow.
No Capt ... Q's going higher today
and through OE tomorrow - into the 40's!!
Triple top or .....
We blow through 40 by just Gapping UP tomorrow ... I am betting on the Gap up and FLY!!
Q 39.98 intra day double top??
Agreed, and IMHO break will be UP very soon
Q's itching to break 40 and over ....
Near term magnet targets
Dow 11650
SPX 1330
Nasdaq 23xx
Q's should take out 40 today
Set up for continued move up through friday ...
DOW 11650
SPX 1330
NASDAQ 23xx
are magnets now :)
Check out ANDR
Started it's move yesterday; 50 dma converging onto 200dma and looks for a good pop
Stealth rally indeed
Who saw it coming? :)
Look for 39.45 to get busted soon - 40's here we come!!
Party on Bulls!!
Yes daaverage - Bull stampede
this week - staying long for now and watching to take out 39.45!!
koepkesd, many reasons to go up
Doesn't look like the institution are selling (yet) - not too many sellers and bears have not been able to take this down convincingly last week. Looked more like a consolidation and slight pullback after the run-up in August.
Week of OE usually is a move in the opposite direction of previous week which was down. Should move up through the Fed meeting next tuesday at which time it could go down on the news. At the minimum to test the 'top' at 39.45 ... if we take it out 40-42 is imminent.
cheers and good luck!!
Bull is alive and well
Hope the bears enjoyed the 'short feast' couple days last week ... shoud see Bulls run this back up through OE this week.
Enjoy!!
OE always 3rd friday of the month
First friday happened to be on Sep 1 :)
Good call Spooky
Will wait to see if the top was indeed in yesterday and will bail out of long position if Q's close below 38.76 anytime this week.
Enjoy the feast :)
Shorting/Puts in a uptrend market
Could one of the shorts explain why would someone short or buy puts in a market with a bias to trend UP?
Just like one should not catch or buy a falling market (knife) and should wait for the trend to reverse, shouldn't one wait for the trend to change before shorting?
Just trying to learn and understand here.
PS - yes, long QQQQ from 36.13
Been following your advice for the correction up; however, I think this Rally has the strength to keep going up till 40-42.
Maintaining stops underneath to protect profits :)
Q's should keep getting bumped up through next week i.e. until OE on 9/15
Resistance is futile - Join the Bulls for now
and let's all make money .... 40-42 is imminent on the Q's.
Big Boys are going to join this party this week!!
We will eventually ...
As someone said ... bull is moving in "stealth mode" to not cause any panic amongst the shorts yet!
Too many folks expecting
the market to go down right about now after labor day ... usually, will play opposite. When the BIG boys return and see the market closing above the inv H&S neckline support of 38.90, they will push it higher very quickly.
Execting 40-42 by mid September
Agree 141592 ... 40-42 QQQQ
We are breaking out of the Inv H&S pattern with neckline support now at 38.90 - when the BIG boys come back next week, they will push this market higher towards that 42 number.
The little guys are usually right and early :)
Kenwong: Backtest 38.75 triangle breakout successful?
Do you think the Q's successfully back tested the breakout area around 38.75 today? Referring to chart in your original posting:
http://www.investorshub.com/boards/read_msg.asp?message_id=13027712