Nasdaq topped on Apr 7th, 2003

Quote from deadreader:


For the record, it's my opinion that the Nasdaq topped out at 1430 on Monday, and it will not break that high until it crashes through 1108 later this year ...
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We like to see people put their money where their mouth is. Please post the price at which you shorted the QQQ or NQ. If you didn't, then why are you bothering to post your predictions?

B.S. walks. Trading talks.
 
VIX closed today at 24.59, the lowest level since 6/03/02. It broke through its lows of late November, 2002 and early January 2003, both of which were good opportunities to sell. While I am long now, VIX is making me a nervous long.
 
Quote from deadreader:

Some of you will recall that I posted a message on this forum on October 8th, 2002, saying the market had bottomed and a new bull market had started: http://www.elitetrader.com/vb/showthread.php?s=&threadid=9649

For the record, it's my opinion that the Nasdaq topped out at 1430 on Monday, and it will not break that high until it crashes through 1108 later this year ...

The Nasdaq Market has topped, and a new bear market is already upon us. The Nasdaq will not see 1430 again for a long long time.
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Ah well. What can you do?
-v
 
Well, I was wrong.. everything was set for a down move, downtrendline held, divergence short, shooting star candle, but not much followthrough at all.

200 MAs broken to the upside, this has every sign of being the possible end of this 3 year bear market.

Flame me in a few months if I'm wrong :D
 

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My system is still telling me that this market has topped, but I look like an idiot today, that's for sure. Most of my shorts were initiated in the Nasdaq 1425-1430 range, so I'm taking a bath, but I'm patiently scaling into more shorts .... If the nasdaq breaks 1500, I'll call it quits and stop myself out.
 
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