Nasdaq - Big Picture - Could really be complete overall

FX:NAS100   NASDAQ 100 Index
1116 21 12

I noticed it a few times, when an exuberant top is achieved, like was the case in 2000 for the nasdaq, the top is matched again a few years later with sound fundamentals after what the market corrects again. (note this is exactly what happened on SP500             between 2000 and 2007).

Here Nasdaq matched exactly the highest Monthly open ever achieved in 2000.

note there is resistance from the speed limit of the 2002/2007 rally.

As per my previous post nasdaq is probably going to correct and may come to mark a new top in June.. It will i think the TOP for a long while.
I have a easy way to make money in the market. Simple: Never predict, just follow.
+1 Reply
YaKa Cabezadeltoro
Very much agree with you. A friend of mine calls that "trading like water". In this particular case, the game plan is still on. Agree with you though: What a remarkable resilience..
+1 Reply
But you are still "predicting". Just follow the trend that is happening now. And the trend now is up. So look for opportunities to go long. And besides, who the heck knows what is going to happen on June 15? Why is that a magical day? Just because you say so? Just follow the chart based upon the present. The future will take care of itself. Remember: "Men who look into crystal ball, end up broken glass on finger"
+1 Reply
YaKa Cabezadeltoro
Cabeza, there is truth in what you say.. I hear you. You are a trend follower and rightfully so.. this is your time... I understand what your are doing.
Now you have to understand other styles... You and I wont make money at the same time... When it is trending you make a killing.. When it is trading i make a killing.
We are not the same, we dont trade the same way. I understand how you view the world and wish I could be like you but I am not:)
Its not going there if this thing crashes too predictability :)
There's always 90% losers and 10% winners.

I think we are just going to trade sideways until the end of September.
YaKa LastBattle
This post is old and not view refreshed.. I think the final top could be in Oct15...
YaKa Cabezadeltoro
by the way Cabeza, I dont think you are chosing the right index to make your point.... if anything, the US is doing NADA since a few weeks. In EUROPE YES. Very much so. On this particular post your point is not really valid and I suggest not to buy NASDAQ because your trend is tired here.
I can make money in any market. I am not just a trend follower as you say. I just play swings, up or down, I dont care. Usually 3-5 day swings. I play statistical norms and I don't go outside the bell curve. My style has made me a lot of money over the last 25 years. In fact I use a derivative of the one way formula, aka "thrust method" as designed by the great William Dunnnigan back in 1957 (before computers I might add). In fact I believe the longer you are in a trade the more risk you take. And I don't choose any particular index to trade. Whatever moves and has volatility I trade.

And once again you are making a prediction. You are saying that the NASDAQ is tired. Really just because you say so? How do you know that a market is tired? Is it speaking to you in some kind of mystical voice? Predictions are for amateurs and CNBC commentators.
+1 Reply
YaKa Cabezadeltoro
ok Sir - got you and actually I am in the process of adopting some of this philosophy. As for predictions, I guess there is no value for you reading anything on here then I am afraid.
YaKa Cabezadeltoro
Cabeza, I really like your way btw. Dont misread my answer.. I have a lot to take from your philosophy actually. Being in the NOW as eckhart puts it... True: we trade today and what makes us happy is the gains of today.. good point.
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