Shorted 1000 QQQ at 25

The medicals are leading this rally... MME, UHS, HSIC, ZMH, CVH... watch the real leadership.. igone the tech stocks and retailers (just a short covering bounce and way too much resistance nearby).

For now.. i will be buying the pullbacks off these medicals... they are the only leadership the market has.

--MIKE
 
Who is smoking dope to drive the market up like this? And why couldn't they have done it yesterday while I was in the market? Pretty interesting we get this bounce before the elections. Our tax money at work. :D :D
 
minime -

Not tax dollars - just extreme oversold market, heavy short interest that's being forced to cover, some panic buyers jumping on the bandwagon, and maybe some realization that perhaps the economy isn't heading into depression.

And remember, bear market rallies can be more ballistic than bull market rallies - because of the short covering and the desire of a lot of traders to see a new bull market starting in every decent rally.
 
Originally posted by followtrend
Nasdaq taking off. New trend forming. Cover now and keep loading up. Enjoy in 6 months!!
More...


You don't really think that the picture perfect technical double bottom we had recently is "The Bottom", do you?

So many T/A people watching and trading that bounce it became a self-fullfilling prophecy...

You must have written this before INTC report.l :D

Just because todays gap didn't fill intraday doesn't mean it's not going to fill tommorrow...
 
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