that's as a good indicator as it gets but i think we might try test those 1300....dont think we will get trough tho.
I'm anticipating a really really big day going up then a turn in the afternoon. After that day happens (which again I think will be soon), it's goodbye 11700 and hello 9800 on the Dow. BUT, I'm not here to be right so I'll day trade it wherever it goes with a lot of caution on updays and greedy on down days
Nasdaq & dow keeps going up like its nothin' Another 16 points added and its only 9:30 pacific time ...NO END N' SIGHT..LIKE 1999 ALL OVER AGAIN I remember a couple weeks ago this thread was FILLED wilth bears and shorts who were predicting tings would get worse. I hope they covered monday and tuesday though. Too bad my picks suck though. Anyway, I dont see an end to this runup anytime soon. We could see the nasdaq at 3000 in a couple months at this rate, but 2300 will be touched by sep. easily. You got to have faith in the Fed and in America. Werd. If you short sell you lose most of the time.
I don't really think short sellers are "anti American" LOL. Just for the record, how much are those indicators up this year? As traders, we really can't afford to be "buy only" types...and certainly not "buy and hold" types....since the market guarantees that it will go up and it will go down..why take away half the opportunities? And, if it weren't for short sellers, where would all the "buy and holders" get the stock? Just a comment, not a criticism or anything.... Don
The dow and nasdaq are down this year but that doesnt matter so much. The future is what matters. Once 2300 is retouched a solid cup and handle will have formed and the next target may be 2500. The nasdaq was down alot in october 2002 and then it preceded to nearly double the following year... Short selling is OK, but you HAVE to know when to cover cause you can lose money very quickly when things turn around. And the turn around is often VERY sudden as we have seen this week. The nasdaq added a staggering 110 points in just 4 days. Thats not to say that seloffs aren't sudden but the overall trend for the nasdaq is solidly positive since 2002 and I don't see any compelling reason for a downside just as I didnt see any compelling reason for the nasdaq to go any lower a couple weeks ago. So far, buy and hold seems to work in the long term.
OK, just a couple more comments..to keep it real. The nasdaq was down alot in october 2002 and then it preceded to nearly double the following year... Yes, but it still hasn't gotten even close to it's highs of 5,000 (now 2162). When something goes down 78%, it has to go up 350% just to get back to where it was. 5,000 high, down to around 1100 (1114, October 9, 2002). Currently 2162, still a long way to go. I know that we will never see 5,000 Naz in my lifetime (maybe yours, LOL). I say the same things to the bulls as I do to the bears..." Trade em, Don't marry them" - being opinionated is the one major flaw that causes traders to fail. FWIW, stocks go down more quickly than they rise...very simple principal...traders prefer to collect money (or lock in profits) than to spend it. We hear about the "long haul" but timing is so important...how long a "haul" will it be for those who bought the Naz near 5,000....?? Don't forget that when the say 8% average annual return for the Dow since the early 1900's .... you couldn't buy the "Dow" you had to buy all 30 stocks.....and you would have gone broke with 29 of the 30...I'm pretty sure that GE is the only original Dow component...(maybe a merger or something, but not original companies). Don't fall prey to the Stockbrokers who generally make you "broker". IMHO. Don