Sunday, January 17, 2010


Short term we are likely to bounce as support was successfully tested on friday BUT the weekly charts on the QQQQ are showing that things might be a bit overbought. This is NOT a sell signal or reason to short but it does warrant some caution and a pullback to $43 on the QQQQ could be very possible. I view this pullback which will happen eventually as a solid buying opportunity.


positiontrader said...

In your considerable experience, how much do you think charts help in times like these Stewie? I mean, isn't the market pretty much going to react to earning news?? Thanks!

Didn't help Intel much on Friday though :)

Calculator said...

when I can buy?

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