I'm selling at 7600. easy 8% gain. Good future ahead, here's why
If you zoom out on the nasdaq price it looks like a bubble about to pop.
1. That's why we use logarithmic charts for long term stuff. All compound growth looks like that! Compound growth is exponential. Don't post your bearish stuff on tradingview if you don't understand that.
2. Look at the change in price to earnings. No significant increase. In the tech bubble the average p/e for the nasdaq was 200+. Now, it's 25. It's not increased much in recent years and the average p/e for the s&p is 24 now. The nasdaq is reasonably priced. Yes, it looks like a giant bubble, but earnings have followed suit: this price rise is ABSENT OF SPECULATION and entirely justified. price has risen IN LINE WITH EARNINGS. the reason for the huge price rise is that tech companies have been outperforming significantly!
Any significant price drop (5% or more) will be a buying opportunity until the economic fundamentals change and the future of US companies starts to look less stable.
3. Tech took a hit from the trade war fears for no good reason. that was the buying opportunity of the year.
Sell at 7600 because RSI will probably be about 80 then, macd approaching the top too, and price reaching to the top of the trendline. Wait for a few % drop in price and a better macd/rsi to get back in. Easy money.
If you're bearish on nasdaq, please tell me why.
1. That's why we use logarithmic charts for long term stuff. All compound growth looks like that! Compound growth is exponential. Don't post your bearish stuff on tradingview if you don't understand that.
2. Look at the change in price to earnings. No significant increase. In the tech bubble the average p/e for the nasdaq was 200+. Now, it's 25. It's not increased much in recent years and the average p/e for the s&p is 24 now. The nasdaq is reasonably priced. Yes, it looks like a giant bubble, but earnings have followed suit: this price rise is ABSENT OF SPECULATION and entirely justified. price has risen IN LINE WITH EARNINGS. the reason for the huge price rise is that tech companies have been outperforming significantly!
Any significant price drop (5% or more) will be a buying opportunity until the economic fundamentals change and the future of US companies starts to look less stable.
3. Tech took a hit from the trade war fears for no good reason. that was the buying opportunity of the year.
Sell at 7600 because RSI will probably be about 80 then, macd approaching the top too, and price reaching to the top of the trendline. Wait for a few % drop in price and a better macd/rsi to get back in. Easy money.
If you're bearish on nasdaq, please tell me why.
