What a day for bears today ! This is a quick remarks for today. Over the weekend I plan to draw more charts and do more research and study the market more so that we can be ready for next week's market.
I also plan write a review and recap of the recent Bullish home run of the market since Early March so that we can learn from it and remember that even in BEAR MARKET, the bullish home run could easily make a fortune for you. And the key for that is to catch the chance and to long the right low priced stocks. To name a few: BAC from ~3 to ~15, a 5 bagger; LVS from 1.5 to 11, a 7 bagger; CBOU from 1.2 to 6.4, a 5 bagger .... More importantly, all these home runs happen not in years but in less than 3 Months. Who told us we can not make money as a bull in the bear market ? That's totally wrong ! We need to change our thoughts and remember this historic moment. History will repeat itself. No doubt at all. That's why we always keep analyzing the stock market.
Ok, back to today's market, the following is my short and quick remarks:
- Bears win today because bears still keep the Nasdaq 100 200MA.
- Moreover, the gap down has not been filled in three days so far
- RSI is heading down to break down 50
- the 45 degree downward trend is still holding well
many thanks and very helpful.
ReplyDeleteThank you, my friend. I visit your website everyday. Very helpful!
ReplyDeleteroamer and Dave,
ReplyDeleteYou are welcome. hope to learn from you guys.
Thank you, your blog is very very good!
ReplyDeleteFrom my point of view, qid was confirmed to break out down trend line last friday. But where will it go next? Either going to sideway for a while , then going lower low like in Jan, 2009, or going up from here?
ReplyDeleteSo my concern is for the first case, how do we do?
or for the second case, what is the first target? 50MA?
-- yy
To yy:
ReplyDeleteThanks for your comments and insight,QID's first target will be 50MA. But before that 42.64 need to be broken out. I think next week, QID will retest the 40 and 42.64 levels' resistance.