It got real ugly yesterday if you were long technology. The NASDAQ and QQQ are both sitting in the vicinity of their 50-day moving averages. That area has been support several times throughout this almost year long rally. SO I expect the bull to put up a bit of a fight. We have a big [...]
Posted by 5 February 2004
Watchlist for February 5, 2004
Posted by 4 February 2004
QQQ Gapping Down to its 50 DMA
We’re set to gap down this morning on the heels of Cisco’s earnings/guidance. The QQQ is only about 20 cents above its 50-day moving average in pre-market trading. It’ll be interesting to see if that line holds as support again. I’m finding very few enticing trading candidates, long or short. I’ll have my alerts set, [...]
Posted by 4 February 2004
Watchlist for February 4, 2004
Posted by 3 February 2004
Choppy & Sloppy
The title of this post says it all. There’s a serious bull/bear battle going on right now and neither side seems to have enough power to move the market very much. So we’re chopping around until one side gives. I’m still not finding very many short candidates but if we keep going like this for [...]