Replies to post #286 on Short Term Trading (NDX / NQ / SMH)

[pegwatcher]

Bliss - I respectfully suggest you also read this post by JWG http://ragingbull.lycos.com/mboard/boards.cgi?board=CLB01233&read=9

In my opinion, there is just no way we will have a bull market. We are now solidly in wave 3 from the all time 2000 highs, with the ABC correction, (sucker's rally) wave 2 ending early this year.

To navigate the difficult times ahead, I highly recommend everyone read John Mauldin's new book, Bulls Eye Investing (available Amazon). Even short term traders need to understand the longer term trend.

[Dimension]

i think if we have not hit bottom, we are near..

positive divergence play still possible:
http://www.investorshub.com/boards/read_msg.asp?message_id=3743159

technically, we should bounce monday...the thing is...i think we have to be careful here...and intitally look at any bounce as a relief bounce still.
we still may have a some bouncing around to do while the the bottom forms here...
http://www.investorshub.com/boards/read_msg.asp?message_id=3743347

anyway..i took this one on the chin and exited. will re-group and look for another opportunity monday...

btw, i don't know if any of you also maintain an LT portfolio. if so, i think MSFT is a good buy soon. the one time $3 dividend AND regualr yearly dividend is really good hedge that should offer enough downside protection to make that a nice investment...

[BuzzOnDaBeach]

This may be a short term bottom, but not in the bigger picture. I would look for a final bottom at 1100 NDX.

I am a bull by nature, but I am also a realist.

Buzz