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Settlement date
Agree ... you can sell a stock on 12/31 to be counted towards current year's taxes even though settlement date may be on 1/3 i.e. 3 days later.
PS: Trendline chart
Could you post an updated trendline chart to show if it has broken thru and at what price the backtest should be.
Also, if the QQQQ weekly closed above this week over 39, would that invalidate your wave count?
TIA,
Nirvana
shortterm - hearing both sides
I believe in hearing both sides and that's why I hang our here to get a "bear" perspective. I do not mind being challenged on my "opinions" too but your first post appeared to attack me rather than the issues which you clarified in your lucid second post and I appreciate that.
peace and let's continue hearing both sides to help us make better decisions for ourselves.
Thanks Metal and PS for the link
I will keep an eye on this site for Money Flows etc.
nlightn: Was referring to speculators/investors
in real estate and commodity markets .... not regular home owners.
They are the ones that chase the "HOT" sectors - when tech starts to rise again, they will fuel the QQQQ RISE :)
PS, good point
Central point is that money flows around - the last few years it was in real estate, commodities etc. and now with the confluence of different factors, it is making it's way back into Technology which has been out of favor.
Another reason ... money out of real-estate
With real estate cooling, all the "profits" out of real estate will be needed to put to work somewhere - no other better place with the reasons mentioned before than the U.S market :)
Bullish Factors
Agree that we will see a pullback into the 4/8 yr cycle lows this sept/oct but there are too many +ve signs shaping up for the Bulls to make a run after that:
1. Commodities finally cracking down - they had a put a BIG cap on stocks to move up.
2. Interest rate pause and may lower rates next year.
3. Vista is being compared to Win 95 and application/technology wave that followed - Marked improvement over predecessor (Win XP / Win 3.1).
4. Capital/Technology spending by Businesses with Vista
5. Boomer spending continues to be strong
6. Global expansion {Recovery in Europe (germany) & Japan and expansion in China, India}
The second half of the decade (years 5-9) have usually been better for the market than the first (0-4) where the excessess from the previous run-up are ridden off.
Time will tell ... good luck to all!!
Agree - Tech back in favor
With Vista coming early next year and broad adoption of broadband (from current 50% to 90%), 2007 should shape up very well for large cap tech stocks.
We still may see a little pullback this sep-oct, but after that it's UP UP UP :)
CJ - RE: Harry Dent
I've been Harry Dent (http://www.hsdent.com/ ) and his theories for couple of years now and recently subscribed to his newsletter online. Pretty interesting stuff on "boomer peak spending" that is driving this stock market boom. However, his targets for DOW 36-40K and Nasdaq 12-14K by 2010 seem a little far fetched given both 2005 and 2006 have been very lame years so far.
He expects the markets to take off after the 4 year cycle low this october.
PS - Suggestion on posting past trades in info box
Hi PS,
Could you please reverse the order of posting these trades with the latest/most current on the top? thanks for all your great work here.
8/4 owned 500 QQQHK @ 0
8/4 sold 500 QQQHK @ .85
8/4 bought 500 QQQHK @ .50
8/7 sold 500 QQQHK average .5250 @ 10:35-40.
8/7 bought 500 QQQHK @.50
8/10 sold 500 QQQHK @ .35
8/10 bought 200 QQQIK @ .80 Sept. 37 calls
8/11 bought 50 QQQIK @ .70
8/11 bought 50 QQQIK @ .65
8/14 sold 300 QQQIK @ .95
8/14 bought 300 QQQIK @ .85
8/14 bought 100 QQQIK @ .75
8/15 sold 400 QQQIK @ 1.35
8/16 bought 200 QQQUL @ .80
8/16 bought 100 QQQUL @ .80
8/16 bought 50 QQQUL @ .75
8/16 bought 25 QQQUL @ .70
8/16 bought 25 QQQUL @ .70
8/16 bought 100 QQQUL @ .55
HPQ up +2 in AH
Should help the DOW tomorrow - NDX could start turning down to flat.
CSCO good earnings will help Rally!!
Agree ... the day after FED announcement is almost always a strong move in the opposite direction.
CSCO UP afterhours.
Thanks Pokersam - Glad to be here!
I've followed most folks here from the CSG & Strategy Central groups - stay busy at work but lurk around to learn and get ideas. Great group here ... will contribute when I can :)
Close Red ... Green Tomorrow! :)
Inflation risks remain - cause for future hike possibility
The Fed's rate-setting committee voted 9 to 1 to leave the federal funds rate, the interest banks charge on overnight loans, at 5.25 percent. It was the first time the Fed had met and not raised rates in more than two years.
However, the relief for millions of business and consumer borrowers could be only temporary. The central bank said that "some inflation risks remains," holding out the possibility that it could resume raising rates at future meetings.
Easter Trading Hours
Anyone know the trading hours for tomorrow & friday (reduced or closed on Good Friday)?
Consumer Confidence Highest Since 2002
Cause for spike last 15 min
Agree on BIG NASDAQ Rally this year!
Hi All, recently joined this board and lurking around ... full time professional at Dell and not much time to do trading but like keeping track. Lots of great folks on this board and I'm still learning.
After 2 years of sideways movements, when markets break out - the ensuing Rally is often very powerful and lasts anywhere from 12-15 months. Dont want to predict a number but I expect the NASDAQ to outperform and Rally hard from now on.
Long and Strong - in Nirvana :)
Hi All,
Found this board while browsing around the SI "Playing the QQQQ" board ... lots of insightfull folks here.
I'll be lurking around and post occasionally.
good day and cheers,
Niravana