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Quote from tradingjournals:

Is my belief that QQQ 62.70 is around a bottom correct?
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there's only one way to find out, and it can be extremely expensive and even wipe you out if you are not properly allocated, and that is to start averaging down. If qqq is only 10% of your porrtfolio you will probably be ok.

Most of us who have been in since 2009 are asking the exact opposite question.

Is 62.70 the top?

If you have any good ideas how to get out at the top, I'd like to hear them, since it's been a long time since I had that problem.
 
I think we may be getting close to at least a relief rally.

The way the market defies gravity maybe it will go on to new highs--who knows. But I doubt that. It will probably be a good time to short when a rally starts to fizzle.

Turnaround Tuesday might be the trick.
 
Quote from Bry:

I think we may be getting close to at least a relief rally.

The way the market defies gravity maybe it will go on to new highs--who knows. But I doubt that. It will probably be a good time to short when a rally starts to fizzle.

Turnaround Tuesday might be the trick.
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Halfway decent chance tomorrow IMO. Short covering before the weekend. After this week, there's gotta be a ton of shorts out there looking for a reason to cover.
 
Quote from sle:

"picking bottoms gives you smelly fingers"(c)
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maybe so, but if you know you want to get long, you have to start somewhere. Not sure why anybody would want to get long up here, but I have been 100% long for quite some time.

Where does a new kid start? If you just signed up for your first 401k or this is the first year for your new IRA, what would you do?

If they were asking me I would just say, "Put 20% in GLD and 80% in SPY and hope you live long enough to fine tune the whole deal."
 
Quote from Daring:

An observation.

I know you are long and you not very much a believer of TA

Care to explain your last post? :)
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That line I drew could be support.

Or it could be nothing because price could be random.
 
Quote from Daring:

An observation.

I know you are long and you not very much a believer of TA

Care to explain your last post? :)
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trading is one thing, I can be long or short any moment

investing is another

I see no reason to get flat and take profits

housing is improving, rates are low, the fed is accomodating

a time will come when the best place to be is just sitting in cash

and I can just about damngauranteeya that I won't find it at the top

I've got 100% to play with

I did actually hit it in the year 2000 but that was just by accident and had something to do with the need to get into bonds

to say I don't believe in TA is not correct. I just don't believe what most people say about it.

Mr Bollinger has made me quite a bit of money over the years, but I don't let him handle my retirement account.

As a matter of fact, I don't even let me handle my own retirement account. I pay somebody else who knows what they are doing.
 
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