Quote: "Check out www.vtoreport.com click on strategies... Ed" --------------------- Couldn't help but notice that at the bottom of that page it shows that the strategy used has lost money for the past 3 consecutive years. If I'm down for 30 days I start working on possible reasons why. You are looking at the wrong column. The NDX 100 index has lost the last 3 years. The 5day RSI strategy has never had a losing year in 6 years Ed
Topgun, I'm with you. Did just a little here, if it works great, if not I will just push it into mom's account, should 've bought me the GI Joe with the Kung-Fu Grip if she wanted good asset management. I read your first post, and it does seem that when you are at the top of the chart looking back you think man I should have loaded up. But when you are back down at ???? Support ???? it gets hard to pull the trigger.
QQQ heading for 9-11 levels? I remember post 9-11 QQQ got down below 30 (Around 27-29 level).....Man I wanted to load up the truck but scared to death....They then rebound into 41 range. Well we are back down there again....Is it time to load up??? Answer:
lol, that's a good one Gene. That's exactly what happened to me yesterday while holding 70,000 QQQ long. Thank God I sold it!
Ok seriously though, anyone wants to pick the short term bounce level for the q's ? How does 28.50 - 29.00 sound?
I think your odds are better of flipping a coin and it coming up heads than picking the bottom of the NASDAQ in a downtrend. If you can pick the bottom, then you must also know who will win the SuperBowl next year. Mike
Tony , I know what you mean. Tough market. janko, like a bull market, stocks and indices in a bear market can keep going lower and pin oversold indicators for days without a "bounce". On a yearly chart in QQQ , 28.50-29.00 looks like it could be support, but who knows . At LWS, we like to try to catch the moves intra-day (when possible). Gene Weissman Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net
Okay let me try 1140 NDX short term bounce and the New York Yankees will win the Superbowl next year. And I think that the Lakers will win the Stanley Cup!
I don't know what the bottom will be for the Q's; however if you gauge the overall tech sector sentiment this week, it is overly bearish. This is usually when sharp reversals occur. MM