Marketbaromiter you threw in HAUP kind of sneakily with some big caps- why you like? I've been aware off this companies technology for 10 years and have always found it interesting... stoney
Anything that might be given away during the holidays, I feel, is a good buy in July. I dont know anything about Haup except that they produce some audio "stuff". On the chart, it always seems to ramp up before Christmas and thats all I really need to know...
MarketB it's all about watching TV on your computer. And with the wide screens out there I have always found this to be something people probably would not do. But if they can "portable" it, meaning if they can get satellite feeds to mobile computers... well... Kaching!
My wife called me inside to say La Dolce Vida was on. I realized staring at the screen that these italian movies I once really dug now bore the shit out of me. The same is true of these stocks. I don't know what it is I have a real sour puss attitude, my watch list is gone-- what's left I don't like for one reason or another. What I see looks to high. I feel pressured to pull off a big trade. This can be when big mistakes happen. Beginning of month jitters. I just need a quick $5,000 payout. Is that to much to ask Mr. Market?....
Exactly. I refuse to buy at these levels as a swing trader. Here's an example: Kohl's. It has gone from $43 to $72 in one year. Why? Not for a good reason. I can tell you that much. Kohl's has not nearly doubled its revenues, profits, or eps growth, but its stock price has nearly doubled. Irrational. I'd rather make twice the return with half the effort buying after corrections than on intraday dips, which is catastrophic just before a major correction occurs.
Why not just take a week off? That's probably what i will be doing next week, pop down to the Caymans for some R&R.
Yeah seriously, I worked my butt off this past month and need a break. Will trade better when I get back fresh and clear headed after the pounding that my positions have taken.
Now it is time to see how well the market holds the gains of the past few days. On TV all arrows up for the Naz 5 days, 30 says, etc. But why does it not feel good The NASD continues to lag way behind the S&P 500. It was up only 4 points and the NDX was actually down on the day. 2460 to 2470 resistance from the November and December highs remains an obstacle. If the NASD can clear 2470 in a measurable way then it should be set for a move up to the higher Fibonacci target around 2570. The catch is the NASD has to clear the resistance level first. After these highs, the next cycle turn date is a low due on February 14. After that it is a long ride higher to a March 10 cycle high!. Total breadth was +2393 making five consecutive days of positive breadth!!! The last time we saw six was last August. That doesn't mean we won't see another positive day, but it does illustrate the current extended situation. Internally the market has become overbought. Or it's about to BLAST OFF into space?