AI
Thursday, August 31, 2006 2:38:19 AM
Capt_JMJ: Make or Break time for the Q's
Capt, thanks for the welcome back. Was just scanning chart opinions from StockChart.com's Public Chart lists ... and thought these paint a "make or break" time for QQQQ. Have seen Robert New and Ted Burge provide compelling contradictory evidence before ... just like below. Good to note that Burge is famous for saying, "Buy at support, Sell at Resistance".
For starters, here's Robert New's QQQQ chart which shows the herd has tested the ceiling just overhead and respected it ... which would suggest caution to those considering going long right here ...
But, here's counter evidence from Ted Burge that would lead one to conclude that now's the time to buy ...
Am adding this screen capture from StockChart.com's education links about how to interpret the BPI ...
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Posted by: capt_jmj
In reply to: kenwong who wrote msg# 11734 Date:8/30/2006 7:57:00 AM
Post #11736 of 11815
Ken, welcome back. Yes, you can get much better odds here than in Vegas.
On real estate equity, when prices/value falls, a good part of the equity in a property just disappears, exactly similar to falling stock prices, and the effect is probably worse because more people own homes. Even if they have no intention of selling, the vanished equity reduces a ready source of financing via HELs for new cars, boats, home improvements, vacations, etc, so that money is in many cases no longer spent. And of course in the case of a sale, that means you walk away from the settlement table with that much less. However, that said, some have offered that we are now near the bottom of that cycle, and that things should improve going forward.
Capt, thanks for the welcome back. Was just scanning chart opinions from StockChart.com's Public Chart lists ... and thought these paint a "make or break" time for QQQQ. Have seen Robert New and Ted Burge provide compelling contradictory evidence before ... just like below. Good to note that Burge is famous for saying, "Buy at support, Sell at Resistance".
For starters, here's Robert New's QQQQ chart which shows the herd has tested the ceiling just overhead and respected it ... which would suggest caution to those considering going long right here ...
But, here's counter evidence from Ted Burge that would lead one to conclude that now's the time to buy ...
Am adding this screen capture from StockChart.com's education links about how to interpret the BPI ...
==========================
Posted by: capt_jmj
In reply to: kenwong who wrote msg# 11734 Date:8/30/2006 7:57:00 AM
Post #11736 of 11815
Ken, welcome back. Yes, you can get much better odds here than in Vegas.
On real estate equity, when prices/value falls, a good part of the equity in a property just disappears, exactly similar to falling stock prices, and the effect is probably worse because more people own homes. Even if they have no intention of selling, the vanished equity reduces a ready source of financing via HELs for new cars, boats, home improvements, vacations, etc, so that money is in many cases no longer spent. And of course in the case of a sale, that means you walk away from the settlement table with that much less. However, that said, some have offered that we are now near the bottom of that cycle, and that things should improve going forward.
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Favorite Charts/Links - http://wongken96815.tripod.com/stockspage.html
"Strategy Central" board - #board-5498
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