How Deep With The Down Leg Be?

Discussion in 'Trading' started by tradingjournals, Feb 9, 2011.

  1. QQQQ at the $58 level. How deep do you think would the down leg be? How to best play it? How do you think it would be explained after the move?
  2. massive profit taking :D
  3. Pekelo


    2 feet, maybe 2 feet 6 inches deep.
  4. unlikely to be a down leg
  5. How deep ?

    The uptrend since March 2009 was a bear market rally contained within a much larger downtrend that started in 2000.

    According to my indicators the March 2009 lows will not hold.

  6. Are your indicators your little pecker and sagging nuts, both drooping down?
  7. nltro


    It is your underwear that has failed to hold. The hershey highway is running all over the place.
  8. USD strength continues and the impending Dollar rally approaches. This will be bearish for stocks, Euro, Aussie dollar and various commodities.

    The very overdue equity correction gets closer and closer...
  9. S2007S


    Everyone will disagree but the next correction will be significant if they dont let up on the pomo and other programs they are pushing into the market, how anyone can think this is a healthy market is a fool. Everyone is calling for continuous gains without anyone even hinting at a slight correction, I mean where is the free market. Everyone should know that a correction is going to take place, and its not going to be one of those 3% corrections or 8%, its going to be a 25%+ correction and if the market zooms up another 100% between now and say 2012 or 2014 the next correction will easily collapse the markets 50%+ putting the SPX right back down to 2009-2010 levels, so anyone thinking that this is a healthy strong market is only fooling themselves, with pomo backing it up and Bubble ben bernanke using every magic trick he has its not long before the next collapse takes place. Laugh now but remember that this is not the first time we have witnessed markets like this, there is history that tells us that markets with such upward momentum usually lose most of it after the trend stops. Going to be interesting to see what Bubble ben bernanke uses next to keep the next collapse from occurring, with easy money policies in place and the printing press running around the clock I am wondering what that fool has left for this market and economy.
  10. Everyone will disagree but the next correction will be significant:

    agree...but I got my ass handed to me shorting SPY when I was trying to catch the first wave down. Not gona do that again.

    This "Correction" may not come at all if QE 3 kicks in.
    #10     Feb 11, 2011