Short term bottom today

Discussion in 'Trading' started by jrs3, May 10, 2004.

  1. Pabst

    Pabst

    So if we don't rally we may break?:)
     
    #11     May 10, 2004
  2. ig0r

    ig0r

    lol, PRECISELY!
     
    #12     May 10, 2004
  3. lrm21

    lrm21

    So the question is who is gonna sell into any rally tomorrow or hold for at least a couple of days?
     
    #13     May 10, 2004
  4. Pabst

    Pabst

    I'm a tad long. Not thinking about an upside target...but will puke below 89.50 in NQ or 80.00 in ES.
     
    #14     May 10, 2004
  5. bottom pickers become cotton pickers. with nothing left but smelly fingers




    grimer11:)
     
    #15     May 10, 2004
  6. Pabst

    Pabst


    That's the first thing you've ever said that I agree with.:)
     
    #16     May 10, 2004
  7. Pabst

    Pabst

    Also keep in mind. This isn't a move low in NQ. Just a semi retest of last months lows, albeit still 40pts above them right now.
     
    #17     May 10, 2004
  8. today, DIA & qubes blown through their 200day SMA.

    that support is now a resistance.

    There might be a short live surge of buying from investers "buying cheap". this is especially true for DIA, because it is its first time dipping below 200day SMA in a very long time.

    as far as qubes is concern, it closed below the large decline from 2 fridays ago(4/30), this is very bearish. the next support is in the gap ranging from 33.8 - 33.25, that was created back in oct, 2003.

    thats my 2cents
    what do you think?


     
    #18     May 10, 2004