qqq at 59.69 in pre-market: would sharks (smart money profit takers) start heading to the register to lock some profits?
The rally this week
- Thread starter tradingjournals
- Start date
qqq at 59.95: it looks like the bears may be surrendering.
It was yesterday's top!
QQQ at 59.58 now, and today's down gap did not close, so yesterday's bulls are under, and the bears who surrendered yesterday may be in shock.
I do not understand why any thinking individual could be bearish at a bottom (QQQ at 54.50 area at beginning of this thread) and bullish at the top, yet we saw examples right here on this thread.
Could someone (stupids and trolls are asked NOT to answer) help me understand?
The market broke out of a symmetrical triangle formation in late December and buyers took control beginning of this year. The breakout is currently holding up beautifully and an upper channel target/breakout level is in view with plenty of room to run yet.
You can often make more money buying new highs/selling new lows than trying to pick tops and bottoms.
BTW, at the beginning of your thread there was no reason for longer term market participants to be bearish, technically. The lower trend line was never even touched yet, much less breached.
SPX IS NOW UP 11 OUT OF 13 TRADING DAYS IN JANUARY ALONE.
Now I know a month doesnt make a quarter or a year, but its just amusing to see how one sided this market is, its actually hilarious. So far the SPX has been up 84% of the time in January. 84%%%%%% where is the risk, I mean its not even 50/50, why do even people waste their time at the casinos when they can play the wallstreet casino and get an 84% chance of a return with the SPX, I mean think about it, its GUARANTEED to make you money no matter.....
Wait until the next dip to go long, it will be very short and very quick so when you see the SPX dip about .29% better jump on it because it will leave without you.
As for next week, Sunday night they will gap up the futures about a .5% and continue to rally it into the Monday close, so buying today for Monday is another guaranteed risk free money making trade.....
Now I know a month doesnt make a quarter or a year, but its just amusing to see how one sided this market is, its actually hilarious. So far the SPX has been up 84% of the time in January. 84%%%%%% where is the risk, I mean its not even 50/50, why do even people waste their time at the casinos when they can play the wallstreet casino and get an 84% chance of a return with the SPX, I mean think about it, its GUARANTEED to make you money no matter.....
Wait until the next dip to go long, it will be very short and very quick so when you see the SPX dip about .29% better jump on it because it will leave without you.
As for next week, Sunday night they will gap up the futures about a .5% and continue to rally it into the Monday close, so buying today for Monday is another guaranteed risk free money making trade.....
Nodoji and S2007S: thanks for sharing!
In the retirement mutual funds at Fido, they impose a penalty of 3 months if I make more than 3(4?) trades in a quarter. They call it something like disruptive trading, which I do not believe it is the real reason. Does anyone know if there are fido mutual funds that can hedge the long side?