By nasdaq i mean NQ. We've had a hell of a run thus far and people believe that this is only the beginning of the bull run... We had a 40 point run alone in the first hour of trading on friday and the market breadth diverged... I don;t like to fight the tap but i'm a counter trend trader. Apples best case scenario is 510. If apple magically opened at 510 tomorrow what would that move equal on the nasdaq? Personally i think 3000 is the utmost top, but hell that could be very wrong. I open this thread because i'm curious to hear what others think
if you are a counter trend trader, there is already over fifty percent chance you will lose. Follow the trend, trend is your best friend. Predicting the top is meaningless.
On the upside I would look at... 3030-3040 3205-3240 Those are in focus from back in mid 1999 and 2000. On the downside the first few levels I would look at... 2925 2871-2888 2665 I don't expect any of you to trade on this since you have no idea if I pulled them out of my ass or if I have actual reasoning at those levels. Only time will tell, not me. Trade On!
You were predicting tops a week ago and were so sure of your calls. Now you've given up on your certain methodology and just preach the opposite...
Updated NQ levels as of eod 5/20/13 On the upside... 3030-3040 area remains focused. 3213-3240 slightly tighter than originally posted On the downside... 3009 2994-2998 to include all the drama of magic 3000 2954 2924 2871-2888 2718 If this gets breached the bear will be hungry, IMO. Trade On!
Why won't a company with $200 billion already on their balance sheet, and making $40 billion per quarter never reach a market cap of $1 trillion?