the trend is up, market has bottomed.

I think its good to to see someone stick their head out a little.

 

there are some factors pointing to a short term bottom and a tradeable rally. I just took a small position in QLGC July 40 calls.

 

lots of support @ 1018 on the NDX. I'm showing that as a multi-day support.

 

Let me guess...........Now we REALLY bottomed

Doubling up now is like the guy at the blackjack table. You figure eventually you will win. But (and there's always a but....some bigger than others) there is always a table limit.....as there is a capital limit....

What do you do when the capital runs out and the margin calls start rolling in ????

I still wish you the best of luck....

 

no stockrock,

i'm simply saying that I discovered an error in my analysis. and so I will play it by ear. If today is not the low, i will exit my position. Is that hard to understand?

I only double down when I see a reason to.

 

I reepeat my Friday's comment, "Don't abort, stay short."

 

I argue not with you. As a Monday afternoon quarterback I have perfect vision. My wish to you is that you made the right moves and you cash in. I gain nothing with your loss, I gain happiness with your gain. I always love it when someone makes it. I never do, so someone might as well.

 

Lundy, If you are calculating Fibonacci dates, the Sept 11 week should not throw you off so much, as you should be using other time periods as well. These fib dates are zones, not precise to the day, and only have a better than 50-50 probability when there are different time frames converging on the same zone.

You say 4 days, but you did say affirmatively that 1440 was "The Bottom", as though it was etched as #11 on Moses tablets.

 

if i'm correct, how long will the market rise?

minimum of 10 weeks of bullishness. (higher highs, higher lows)

I use customized fibonacci dgabriel. So it has a much greater probability.

 

It's really funny how this awaited bottom first started as the day before or after June 20th ... meaning either 19 or 21 .. oh yes and maybe even 20 itself ... and then it could also be the 24th ... and it's even funnier how mistakes are ONLY discovered right after we fail ... but never before

Now let me ask a very simply question : how many times did the NDX go down for more than 5 consecutive days since the beginning of the year ?

ONLY ONCE IN APRIL .... other than that the market usually goes down for a maximum of 5 consecutive days and then makes a short-term bounce ... and for how long has the NDX been going down today ... FIVE CONSECUTIVE DAYS IF WE CLOSE DOWN TODAY ...

A simple question would be : statiscally, what are the probabilities that the NDX would rebound tomorrow ? and if that happens does that make our friend a hero ??? now what if it hits a new low tomorrow ?

Lundy, face it now dear ! You have made a fool out of yourself already !