Time to go long?

T

tradermaji

See the attached chart for bullish divergences and trendline breakout by the MACD and RSI. Aggressive traders can take this signal, and the others can wait for a confirmation if the price breaks out of the downtrend line on the price charts.

For the contrarians, the pessimism is on a rise and that is bullish. See this link for reference.

http://post.polls.yahoo.com/quiz/financeresults.php

Just an observation.

Maji
 

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Quote from Bowgett:

I would wait for a little pull back though. We are overbought on short term basis.
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Thats why i'm bullish. All you guys waiting for a pullback that might not happen, therefore you will be buying much higher causing the market to really spike
 
I didn't say I am waiting for pull back :D I am already long for a couple of days. I just gave my advice for the ones who want enter long now.
 
Did you catch the long QQQQ trade when I initially posted the long signal? Lucky Guess :)

Don't forget to move the stops up and protect some of the paper profits. Note the strong resistance at the 38 area, maybe a place to book partial profits.

Good luck,
Maji
 
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