Nasdaq to set new 5 year high today

Discussion in 'Trading' started by stock_trad3r, Nov 16, 2006.

  1. Looking at the 5 day yahoo finance chart for the nasdaq I see it will pass 2460 at some point today. It rebounded sharply off the support of 2438 this morning twice creating a very double bottom and a tripple bottom if you include yesterday. Once that happens yesterdays high must be retouched and then more

    Also buY google. Buy a smuch as you can.
  2. ChrisL


  3. today nasdaq is def going green

    there is soo much buying support that it rebouded off the lows sharply an hour ago and is up a massive .35% from the intra day lows.

    There is tons of buying going on. If this were May of 2006 there would have been no support but now we're seeing tons of positive technicals such as double bottoms, cup and handles and such.

    Google is the buy of the decade. There have an iron grip on the entire internet as well as media in general. Wow thats sounds good to me.
  4. S2007S


    HA if this were May of 2006.....come on....
  5. S2007S


    The buy of the Decade, didnt they say that about every internet startup IPO back in 1997-2000.....
  6. One only need to look ag googles financials to see this is no bubble

    the entire market is still vastly undervalued compared to late 90's.

    much more upside to go
  7. dac8555


    once again you are backwards...

    1. We are not undervalued as compared to the late 90s
    2. The last 90s was vastly overvalued...which is why it crashed and the qqqq is half of what it was.

    where do you get this crap?
  8. <b>dac</b>, agreed. Some of us here have heard the "tech trees grow to the sky" euphoria in message board posts before. Exactly the same stuff being posted now was plastered across the internet in late 1999 ~ early 2000... I'd swear some of it is copy-paste.

    Buying the dips is working fine right now, and may work for quite some time to come. But... not forever and maybe not even the next six months ahead.

    Those red candles in historical chart below represent newbie bulls voicing opinions with their cold cash last time around. History tends to repeat itself, because mankind is predictable to a fault.
  9. I don't want to rain on your parade of "History repeats itself" but I would add that the devil is in the detail. And in the financial world, the detail, most of the time, is the timing. So you might be right too early or too late. I doubt what happened in 1998-2002 will happen in the same way.
  10. dac8555


    i will conceed that if i were to be would be tech.

    The future looks grim for:

    1. Housing
    2. finance
    3. retial
    4. pharma
    5. autos
    6. construction
    7. oil???

    Tech is sitting on a boat load of cash...and has pleanty to offer.
    #10     Nov 17, 2006