I feel tech stocks have peaked today. TXN, ADI, INTC ,..... although all up, show a kind of resistance in going up. I feel today is a good time to short tech stocks in general. What do you think? Any suggestion? INTC should come up with a super huge surprise to justify the current run up otherwise we will see profit takings even if they beat the estimates.
Have you considered that maybe because you "feel" that they have peaked, you should be going long?! Bring up a longer term chart of NQ. Tell me what you really see... If you have a set of strategies - follow them. If you are a discretionary trader and you have uneasy feelings - then stay out. Just a thought...
Yes I specifically mentioned I "Feel" in order not to be asked technical reasons and ..... to justify my saying. I am just constantly looking at the price and bids and asks and put all my observations and experinece together and I come up with the "feeling" that tech stocks have peaked.
You could be right. http://www.minyanville.com/assets/sources/bill_ndcomp_15days.jpg Chart courtesy of Jason Roney at minyanville.com
this is just the beginning of the tech rally.. you have to get long because Cramer is the reason they are rallying. He will "single-handedly be responsible for the massive tech rally to ensue" don't be left on the sidelines.. its free money $$$
Charts are wonderful things ....... as are all those wonderful descriptive option pricing parameters .......