A hanging man is formed in NASDAQ today, the new higher high is expected in the near future, that's my today's conclusion and the close market remarks.
From the NASDAQ daily chart above, it is obvious that:
- A hanging man is formed in NASDAQ today, usually it signals that the new higher high is coming soon
- NASDAQ has so far stood well above the 200MA for three days, a bullish sign
- These three days combined toether formed a powerful and bullish pattern, indicating possible breakout and run up
- Today's volume is healthy, not too big, neither too small
- breakout point is 1773.13 [1],once broken out, should run up big for a while
Some friends may think the market is insane now. It really is. But only insane market can make some guy rich from successful trading. The key is to follow the trend, no matter how insane the market is. That's why some guy can buy stocks dirty cheap as well as be able to sell stocks at dirty high price.
I checked the TIAA Real Estate annuity tonight, it droped 14.58% so far this year. So the commercial real estate is still going down, and will bring down the financials, banks, and the general market again. However, not now, may be untill FAZ becomes about $2 [2]. Today FAZ closed below $5, really indicating the potential to the $2 level.
why the TIAA real estate ?
ReplyDeletethe TIAA Real Estate annuity used independent resources to valuate their properties market value every day, it's a pretty dependable signal for commercial real estate market.
ReplyDeleteIMO,
Tiger
FAZ drops to $2 is not impossible.
ReplyDeleteTA
We would obviously need confirmation tomorrow before acting on it. Just on a single hit it's impossible to confirm. Esp on the current volume. What I see more important is a 5 day high wave formed which shows market has no direction. I also believe the last few times we hit a hanging man it was a bearish hanging man and not a hammer reversal.
ReplyDeleteI'm still bearish and feel the 50D EMA can hit and still believe we will see 1700 on or before the 11th (which would mean the signal today is a bearish hanging man showing a reversal). It could be possible that the 200MA holds, but if we break it, then a break down may be in the works, but again things have been so uncertain it's hard to say.
I'm just glad GOLD has been keeping me afloat.. and my shares I sold of BIO didn't hurt..
I may dump GOLD and buy back at a dip.. also looking at shorting oil..
I'll be looking hard in the morning for a quick buck.. to help make me feel better, since today was a bit harsh.. but hey.. the hit on psun was good.
Ben,
ReplyDeleteThanks for sharing your view. however, 1700 on or before the 11th may be impossible. GOLD is a nice pick. I wish you told us that a little earlier.
Tiger
Yeah.. I bought that at the beginning of March.. just sitting in my port as long term low risk play.. I may have to lock in some profits on it though..
ReplyDeleteNAZ is only at 1750.. you can easily have a -50 in a day on the naz.. much like we had the +50 day not too long ago..
I also had RIG before I came on your blog.. and dumped when oil was touching 60.. hell it has a nice $10PPS increase in the last 2 weeks or so..
I was in the 40's 50's and 60's and dumped in the mid 70's.. But now I'm bearish oil as trading is not on oil fundementals and it's inflatoin speculation.
Didn' thave time this AM to really sscreen the markets for something to buy..
I had some NOVL that I dumped way too early (bought in the 2's and dumped in the mid 3's..
But like I said.. I still have no doubts on QID (FAZ i'm starting to question since RIFIN has been strong..
DELL is helping $COMPX today much like Semi's did on Wednesday. Low volume again today.. I still think today's a down day and we have a bearish hanging man reversal. May have to merge the high five to see what we really got... but again I think that was a bearish hanging man showing a downward reversal (we've had 3 of them this year I believe on the $COMPX, i'll have to map it out to verify).
Ben,
ReplyDeleteNice profits on GOLD. Almost doubled so far. RIG is a very good play as well.
good luck on your QID and FAZ
Tiger