Time to head towards NASDAQ 3100 !!!

http://stockcharts.com/c-sc/sc?s=$COMPQ&p=M&yr=10&mn=0&dy=0&i=p71017205998&a=123814345&r=2417.png

OK, so keeping it simple, we haven't really broken long term support, not saying we won't test aug lows next few days to next week, but i think if it wasn't for the employment #'s last week the momentum wouldn't have taken a dive south. so:

1. long term trendline still intact
2. blah, blah, blah,
3. blah, blah, cover your shorts...we're going NASDAQ 3100!

-TA

one step at a time, first let it go to 1750...then we see ;p

but i think if it wasn't for the employment #'s last week the momentum wouldn't have taken a dive south.

I agree, if the employment # was good, financial crisis was not true and housing bubble hasn't burst, we should be at 1600+ now.

I am just joking

Edited by CNSZ, 08 January 2008 - 09:26 PM.

one step at a time, first let it go to 1750...then we see ;p

whoa! 1750? You really think so? whats your basis for such a tank?

I's funny. I always see people say "test" the August lows, when at the same time they assume they will hold. For myself, a test is a test, and I'll wait to see if the market passes.

one step at a time, first let it go to 1750...then we see ;p

1750?
I am long time bear, have been fully short for more then 6 months now. even me, have never dreamed 1750. do you serisely think we may see below 2000?

I's funny. I always see people say "test" the August lows, when at the same time they assume they will hold. For myself, a test is a test, and I'll wait to see if the market passes.

agree, all u can do is react. and if we do close out the aug lows, well then the thesis will have to be reorganized accordingly, until then, we play the signals we are given...

If the aug lows are broken, then obviously the bull case will need to be revisited, and probably discarded, and we'll all say, yes, that did look like a bear market coming, shoulda seen it... isn't that how it usually is? I never seem to catch the tops (bottoms)...

I don't know.... My IT term bottom signals are starting to hit as of today, so time wise we are close to the IT bottom. I'm currently using a 2 point band around the MAX Pain on the QQQQ's which Max Pain is now 49, so we shouldn't go to far below 47 before we bounce. Barry

I don't know.... My IT term bottom signals are starting to hit as of today, so time wise we are close to the IT bottom. I'm currently using a 2 point band around the MAX Pain on the QQQQ's which Max Pain is now 49, so we shouldn't go to far below 47 before we bounce.

Barry

barry, whats an IT bottom? don't know this term. sorry.

I's funny. I always see people say "test" the August lows, when at the same time they assume they will hold. For myself, a test is a test, and I'll wait to see if the market passes.

Spooky,

Test can be higher lows as well.

Edited by NAV, 08 January 2008 - 09:41 PM.