Whats the Nasdaq's Ceiling?

Discussion in 'Trading' started by etfarb, May 5, 2013.

  1. etfarb


    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
  2. TILT2


    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.
  3. On the upside I would look at...


    Those are in focus from back in mid 1999 and 2000.

    On the downside the first few levels I would look at...


    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. :confused: :p

    Trade On!
  4. luisHK


    why is that ?
  5. d08


    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...
  6. etfarb


    value of apples paper
  7. .
    Originally posted 5/5/13 ...

    I'm just saying. :)

    Trade On!
    Will be updating levels this eve.
  8. Stop trying to be right, just make money!
  9. 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...
    2994-2998 to include all the drama of magic 3000
    2718 If this gets breached the bear will be hungry, IMO.

    Trade On!
  10. 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?
    #10     May 20, 2013