listen mate...to make money consistently, you have to do a LOT better than that. check 50% of the stocks in the market last November... they were all breaking out. not atypical chart behaviour for that time of year. we are now in july "sell in may and go away?" we have also had a few fed rate hikes since then. becuase of a big down week...your stocks will more than likely take a bounce the begining of this week. dont misinterpret that as a resumption of a bull market. there is a distinct difference.
"Based on the fact that the nasdaq tested 2025 last november and bounded off it and now it seems that it has bounced off the 2025 level again. " Good thing the market always behaves predictably based on the chart price, or this stuff might be hard! :eek: Well, the first thing ya know, 'ol Jeb's a millionaire....
Here is a chart of the 3 year nasdaq: http://stockcharts.com/h-sc/ui?s=$COMPQ&p=D&yr=3&mn=0&dy=0&id=p13521192992 As you can see form the chart, selling patterns like we have seen in the past two months are typical, but have always been short lived. The nasdaq will rebound back to 2300 in four months or so. Not a big issue if you are long. Tie 3 year chart: http://stockcharts.com/h-sc/ui?s=tie&p=D&yr=3&mn=0&dy=0&id=p13521192992 Ouch..down alot from its 52 week high but still a good buy though when you consider that business is booming and the sock is very oversold. AAPL: http://stockcharts.com/h-sc/ui?s=aapl&p=D&yr=3&mn=0&dy=0&id=p13521192992 My buy point was at 58 and accordingto this chart way oversold. Should retouch 70 again soon. Sell it for profit. Not a long term keeper IMHO. Goog: http://stockcharts.com/h-sc/ui?s=goog&p=D&yr=3&mn=0&dy=0&id=p13521192992 notice how strong the prevailing trend remains despite the stock has gone nowhere since Jan? Goog will catch up with the trend and go to 500 within a few months. Yes goog is google and google may be the stock of the decade and possibly century. Hans: http://stockcharts.com/h-sc/ui?s=hans&p=D&yr=1&mn=0&dy=0&id=p13521192992 One of the bestcharts I have ever seen. Notice how despite the recent selling in the past 2 months the upward trend is still maintained? Have to be stupid to go short on his. Buying more if it retouches 44. Hans is Hansen natural and great stock. So there you have it. All of these stocks have had instances where they have sold off but all selloffs were temporary according to historical chart data. TO go long in these stocks you have to take paper losses or you wind up selling too soon and lose real money.
You are not seeing the forest through the trees mate.. 1. QQQQ- learn how to draw a correct trendline and get back to me. 2. TIE- the âmatterhornâ pattern followed by lower highs and lower lows. 3. AAPL- see #1 and #2 4. GOOG-see #1 and #2 5. HANS- I could be wrong here, it has held up very well. But I see a potential double top. A short would be premature, but a long would be riskier given overall market conditions. The first 4 have âshortâ written all over them for any significant time period. When you say âoversoldââ¦are you just using the word to try to artificially strengthen you opinionâ¦or are you using an actual mathematical indicator? Which one?
those stocks you have mentioned experienced some of the worst technical damage over the past year. Do you know what a top is? TIE formed a huge top, HANS a huge top, and QQQQ broke through its lows and has not been able to make higher highs. Open your eyes dude
hans looks good...one of the few stocks holdin' its own durin' this massacre...have me eyes stuck into that chart waitin' to jump in; maybe 2morrow some otms calls would do the job just fine.