the trend is up, market has bottomed.

[lundy]

when the trend will change? There are many indications of a change in trend... notice first that we took out lows of September, then we made a new weekly high on the NDX? then we took out lows again.

That means double bottom, a real double bottom.

I'm not saying new bull market. I'm just saying the trend just changed on the weekly chart. If you want to wait for confirmation go ahead. But as a pivot trader, I catch knives for a living and I know when it gets tossed up whether i will be able to catch it. And by golly i'm 100% sure i caught it this week, this day.

 

[dgabriel]

Originally posted by lundy
when the trend will change? There are many indications of a change in trend... notice first that we took out lows of September, then we made a new weekly high on the NDX? then we took out lows again.

That means double bottom, a real double bottom.

I'm not saying new bull market. I'm just saying the trend just changed on the weekly chart. If you want to wait for confirmation go ahead. But as a pivot trader, I catch knives for a living and I know when it gets tossed up whether i will be able to catch it. And by golly i'm 100% sure i caught it this week, this day.

How can you be 100% sure, next week and thereafter has not occurred yet?

 

[Yannis]

Originally posted by stockrock1



I say, go with the trend until it changes. Then go with the trend.

Hey, that was a pretty good line. Maybe I'll make it my quote.

Stockrock1,

Good quote, as long as you remember that the trend is MY friend

 

[asad147a]

The Last Friday lows (14/06/02) have been retested and Market is now due for a nice upturn foing into summer rally.

Buying some options would not be a bad idea. However keep some puts for protection in case we are wrong.

 

[PuffyGums]

Originally posted by Yannis


Stockrock1,

Good quote, as long as you remember that the trend is MY friend

...and that <big><u><b>I</b></u></big> rule the freakin markets.

 

[chasinfla]

id like a little liquidity with my volatility, thank you.

 

[Bono]

There's no such thing as "100% sure" in the market ... otherwise, it wouldn't have been called a market ...

 

[rs7]

Originally posted by chasinfla
id like a little liquidity with my volatility, thank you.

Excellent point!

 

[Rigel]

I hope your right Lundy.
A gap up would be real nice right now. Looks possible.

 

[Newatthis]

Do not panic. Women and longs first. Stay short. Too many looking for bottom. Sell the rallies. Don't go home ove the weekend long. Risk reward of it is terrible. Mid east could blow at any minute, terrorism on US soil "not if but when" etc...